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

Copper Crunch May Push Prices Higher as New Mines Take 16 Years

Gujarat Urges Factories to Curb Power Use as Demand Surges

COAL & MINING

23 Oct 2026

Gujarat Urges Factories to Curb Power Use as Demand Surges

India Shelves Coal Import Plan as Power Plant Stocks Dwindle

COAL & MINING

23 Oct 2026

India Shelves Coal Import Plan as Power Plant Stocks Dwindle

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..

Resources

23 Oct 2026

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Infrastructure Urban

23 Oct 2026

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Building Material

23 Oct 2026

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..