Mining industry urges Centre to hike import duties

14 Nov 2022 CW Team

India's mining industry has demanded higher import taxes on metals such as zinc, copper and aluminium to help halt a tide of cheaper imports, especially from China. The Federation of Indian Mineral Industries (FIMI) has addressed a note to the Finance Ministry saying the government should raise import taxes to 10%-15% on several aluminium products, including scrap to 10% from 2.5%.

India is the world's third-biggest primary aluminium producer. Its aluminium producers are expected to raise their combined production capacity to 4.6 million tonnes in the next two years, up from 4.1 million tonnes now.

During the fiscal year to March 2023, India's aluminium demand is expected to reach 4.2 million tonnes. It imported 2.3 million tonnes of aluminium in the previous fiscal year.

“The major threat of imports is from China, which constitutes over 85% share of downstream aluminium imports,” FIMI said in the note to the ministry as it prepares the 2023/24 Union Budget, due to be announced in February. The federation said most metal scrap imports were coming from Britain, Saudi Arabia, the United States, and the United Arab Emirates.

The FIMI also urged government to raise import taxes on intermediate and finished goods of copper and zinc ingots to 7.5% from 5%.

FIMI also reiterated its demand to scrap an export tax on low-grade iron ore lumps and fines - with iron content below 58%. The tax was raised to 50% from zero in May.

FIMI; imports; China; aluminium; zinc; scrap; copper; iron ore

Commercial Coal Mining Reforms Boost Competition And Efficiency

WGC Urges Government To Classify Gold As Strategic Mineral

COAL & MINING

10 Aug 2026

WGC Urges Government To Classify Gold As Strategic Mineral

Centre Auctions Six Coal Blocks To Generate Nearly Rs 20 bn

COAL & MINING

07 Aug 2026

Centre Auctions Six Coal Blocks To Generate Nearly Rs 20 bn

Gold Stories

COAL & MINING

25 Nov 2022

"Reimagining Classic Literature: Reinventing Timeless Stories"

COAL & MINING

31 Jan 2022

"Tips for Efficient Time Management: Boost Productivity and Happiness"

COAL & MINING

14 Oct 2021

M V Rajasekhar, Director, BEML: “The mining equipment segment is u..

Real Estate

13 Aug 2026

L&T Wins Mega Order for India’s Largest NVIDIA B300 AI Factory

Larsen & Toubro (L&T), through Vyoma.AI’s AI infrastructure subsidiary LTN Compute, has secured a mega order to develop what the company describes as India’s largest single-cluster AI infrastructure facility. The NVIDIA B300 AI Factory will support US-based AI cloud company Together AI’s platform for large-scale inference, fine-tuning and training workloads.The integrated AI Factory will be hosted at Vyoma.AI’s Chennai data centre campus and will have a capacity of 10,000 NVIDIA B300 GPUs. The platform will combine hyperscale data centre infrastructure, accelerated computing, h..

Infrastructure Urban

13 Aug 2026

Autodesk Elevates Nikhil Bagalkotkar to Lead AEC in India, SAARC

Autodesk has elevated Nikhil Bagalkotkar as Head – Architecture, Engineering and Construction (AEC), India and SAARC, with immediate effect.In his new role, Bagalkotkar will lead Autodesk's AEC business strategy across the region and drive adoption of the company's Design and Make platform. He will also focus on promoting digital design and construction technologies to help customers accelerate innovation and deliver more sustainable and resilient infrastructure.Bagalkotkar will be responsible for expanding Autodesk's AEC business, strengthening customer and partner engagement, and accelerat..

Real Estate

13 Aug 2026

Listed Developers' Pre-Sales Seen Rising 22.3 Per Cent in FY27

India's leading listed residential developers are expected to sustain strong sales momentum in FY27, with combined pre-sales of 11 major players projected to rise 22.3 per cent year-on-year, according to an analysis by ANAROCK Research & Advisory.Combined pre-sales of the developers are estimated to increase from Rs 1.49 trillion in FY26 to Rs 1.82 lakh crore in FY27. ANAROCK attributed the growth to sustained end-user demand, new project launches and strong execution despite higher property prices, construction costs and global uncertainties.Dr Prashant Thakur, Executive Director and Head..