Cheap imports of copper under multiple free trade agreements are “severely damaging” Indian manufacturing, industry body IPCPA said and sought immediate government interventions in the form of a safeguard duty and quantitative restrictions on inbound shipments from overseas.
According to the Indian Primary Copper Producers Association (IPCPA), a surge in zero-duty copper imports is eroding the country’s domestic smelting and downstream manufacturing sector, even as over Rs 20,000 crore has been invested in recent years to achieve self-sufficiency.
“Zero-duty imports from FTA partners are severely damaging Indian smelting and refining,” the ICPA said, and demanded that a 3 per cent safeguard duty should be imposed on copper imports of certain categories, irrespective of the FTA (free trade agreement) status.
It also raised concerns about the India-UAE Comprehensive Economic Partnership Agreement (CEPA), under which customs duties on copper wire rods have fallen to one per cent in FY2​Cheap imports of copper under multiple free trade agreements are “severely damaging” Indian manufacturing, industry body IPCPA said and sought immediate government interventions in the form of a safeguard duty and quantitative restrictions on inbound shipments from overseas.
According to the Indian Primary Copper Producers Association (IPCPA), a surge in zero-duty copper imports is eroding the country’s domestic smelting and downstream manufacturing sector, even as over Rs 20,000 crore has been invested in recent years to achieve self-sufficiency.
“Zero-duty imports from FTA partners are severely damaging Indian smelting and refining,” the ICPA said, and demanded that a 3 per cent safeguard duty should be imposed on copper imports of certain categories, irrespective of the FTA (free trade agreement) status.
It also raised concerns about the India-UAE Comprehensive Economic Partnership Agreement (CEPA), under which customs duties on copper wire rods have fallen to one per cent in FY2 ​Latest News [ SOBAN NEWS: International and National ]
