The cold rolling and manufacturing sectors have urged the Centre to put in place a “differential duty” regime to promote the domestic industry and conserve forex besides generating additional employment. In a representation to the Centre, it sought a “rational” decision in the overall interest of the nation, said a press release here from Cold Rolled Steel Manufacturers Association of India.
India has surplus capacity of 3 million tonnes in the integrated sector but imports of 1.7 million tonnes of cold rolled coils and sheets in 2014-15 resulted in the closure of 14 units due to the uniform rate of custom duty on the imports of hot rolled coil, it said.