With a view to solve the problems being faced by Indian Metal Recycling Industry, Union Minister Vishnu Deo has stated that the Mine Ministry will be looking into issue of import duty on scrap, special additional duty and trade pacts with countries.
This development comes after Metals Recycling Association of India expressed its apprehension over metal recycling being badly affected by heavy import duty, Special Additional Duty (SAD) regime and certain Free Trade Agreements (FTAs) with countries and hence demanded government to draft a Metal Recycling Policy to grant “Industry status” to the sector and rationalize duty structures to make it a globally competitive industry.
Further, it also urged the Ministry of Steel and Mines to consider the removal of import duty and SAD, levied on imported scrap products on immediate basis in the forthcoming budget and expressed the dire need of government’s intervention to save the already bleeding industry from dying. Lastly, the association also requested the Government of Maharashtra to create special recycling zones in the State.