zerodha open demat account wide banner

New Delhi, Jan 14 (PTI) Industry chamber PHDCCI on Friday said it has suggested to the government to remove customs duty on copper concentrate as the move would encourage domestic companies to manufacture value added products in India, instead of importing the same under free trade pacts.

The customs duty on copper concentrate is at 2.5 per cent.

It also pitched for increasing the basic custom duty on copper cathodes on refined copper products from 5 per cent to 7.5 per cent.

“In order to protect India from being a dumping ground of metal scrap, it’s important to make stricter operating norms for the scrap recyclers, so as to abide by an environmentally friendly process,” it added.  These suggestions were made by the chamber as part of its pre-Budget recommendations.

Further, the chamber suggested imposition of 10 per cent standard customs duty on import of paper and paperboards from ASEAN, South Korea and China.

It said these products should be kept in the negative list while reviewing the existing free trade agreements (FTAs) and formulating new pacts. PTI RR ABM ABM