Finshots Daily Why India needs more import duties on Aluminium
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Dec 10, 2024 The podcast dives into the pressing need for India to raise import duties on aluminium. It highlights the challenges faced by local manufacturers due to cheaper imports, particularly scrap aluminium. The discussion reveals how these low-cost imports affect domestic production and competition, especially against nations like China. It’s a deep look into the economic landscape and the protective measures required to bolster India’s aluminium industry.
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India's Aluminum Needs
- India's aluminum demand is rising, but domestic production can't keep up.
- This necessitates importing aluminum, either primary from ore or secondary from scrap.
Scrap vs. Primary Aluminum Imports
- Importing secondary aluminum scrap is cheaper than primary aluminum due to lower import duties.
- This makes scrap the preferred import choice, impacting domestic producers.
Impact of Scrap Imports
- Imported scrap often doesn't meet quality standards, affecting local producers.
- Indian producers want a uniform 7.5% import duty on all aluminum.