Jindal Stainless Urges Customs Duty Removal on Ferro Nickel and Molybdenum

Jindal Stainless has requested the government to remove customs duty on ferro nickel and molybdenum in the upcoming Budget to ensure industry access to these vital raw materials at competitive prices. Managing Director Abhyuday Jindal advocates for long-term waivers to support the 'Make in India' initiative through incentives for innovation and sustainability.

Jindal Stainless has called on the government to eliminate customs duty on ferro nickel and molybdenum in the forthcoming Budget. The current duty is 2.5% for ferro nickel and 5% for ferro molybdenum.

Abhyuday Jindal, Managing Director of Jindal Stainless Ltd (JSL), has proposed a long-term waiver of basic customs duty on these raw materials. He emphasized that this move would help maintain competitive prices and support the 'Make in India' initiative.

The company also requests the continuation of zero customs duty on stainless steel scrap, steel scrap, and pure nickel, as well as maintaining the 30% export duty on chrome ore. Jindal highlighted the urgent need to address the issue of low-quality imports from China to ensure fair competition.

(With inputs from agencies.)