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.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..