PHD Chamber demanded removal of customs duty on copper concentrate in the budget


New Delhi, Jan 14 (PTI) Industry body PHD Chamber of Commerce and Industry (PHDCCI) on Friday said it has suggested to the government to remove customs duty on copper concentrate in the upcoming Union Budget to help domestic companies sell value-added products. to encourage manufacturing.

PHDCCI said that failing to do so would increase imports of these products under free trade agreements. The customs duty on copper concentrate is 2.5 per cent.

The industry body also advocated for raising the basic customs duty on refined copper products, copper cathode from five per cent to 7.5 per cent.

The industry body, in its pre-budget recommendations, said strict norms for scrap recycling are necessary to avoid becoming a stockpile of metal scrap, so that an eco-friendly process is followed.

In addition, the industry body suggested imposition of 10 per cent standard customs duty on imports of paper and paperboards from ASEAN, South Korea and China.