| Trade Issue | ||
| Indian stainless steel importers oppose import duties - 18 Nov, 2008 | ||
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UNI reported that Indian process plant machinery manufacturing and exporting units using imported high end stainless steel have strongly opposed any move by the finance ministry to levy import duty on stainless steel products. Mr VP Ramachandran secretary of Process Plant & Machinery Association of India said that “This proposal has been made to provide protection to the domestic stainless steel producer.” He said that the process plant manufacturers in the country use high grade steel for manufacturing critical components of machinery. According to him the Indian companies are importing those grades and sizes of stainless steel which do not directly affect the domestic manufacturers. Mr Shirish More VP Kirlosker Brothers, a company exporting pumps and valves, said that introducing a high duty regime will prove counter-productive. | ||
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