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from TradeBriefs FMCG Daily Newsletter

Sree Vijaykumar

From the Editor's Desk

Steel Industry demands import duties to be reduced to zero in Budget 2018
The year 2017 was an eventful year with three major reforms such as Demonetisation, GST, and Bankruptcy and Insolvency Code being passed by the government to address the issues of black money, cash economy and rationalisation of indirect taxes. It is expected that the last complete budget before the 2019 general elections will be an extension of these measures.

For the benefit of the steel sector the industry expects relaxations on import duty on raw materials as crucial for production of the alloy. Union steel secretary, Arun Sharma, recently said, all the important articles imported for the production of steel in the country should be free from import duty. It would take care of ferro nickel, ferro-molybdenum, ferro chromium, coking coal and scrap. Read More

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