ÑDz©ÌåÓý¹ÙÍøÊ×Ò³

FIMI seeks urgent RoDTEP extension for aluminium exporters
ECONOMY & POLICY

FIMI seeks urgent RoDTEP extension for aluminium exporters

"The Federation of Indian Mineral Industries (FIMI) has urged the Ministry of Commerce and Industry to extend the Remission of Duties or Taxes on Export Products (RoDTEP) Scheme for aluminium-producing units operating under Advance Authorisation (AA), Export Oriented Units (EOUs), and Special Economic Zones (SEZs).

This appeal follows a similar request made by the Aluminium Association of India (AAI) to the Ministry of Finance, citing the need to safeguard the competitiveness of nearly 45 per cent of India’s aluminium exports originating from AA/EOU/SEZ units.

In a letter to Commerce Secretary Shri Sunil Barthwal, FIMI noted that the lapse in RoDTEP coverage beyond 5 February 2025 places Indian producers at a 5-10 per cent cost disadvantage due to embedded taxes. The sector, with $20 billion in investments and 4.1 million tonnes annual capacity, is the world’s second-largest aluminium producer.

FIMI warned that delays could lead to production cuts, job losses, and reduced domestic value addition. While the scheme had been extended thrice, the industry awaits formal notification of coverage post 6 February 2025."

The Federation of Indian Mineral Industries (FIMI) has urged the Ministry of Commerce and Industry to extend the Remission of Duties or Taxes on Export Products (RoDTEP) Scheme for aluminium-producing units operating under Advance Authorisation (AA), Export Oriented Units (EOUs), and Special Economic Zones (SEZs).This appeal follows a similar request made by the Aluminium Association of India (AAI) to the Ministry of Finance, citing the need to safeguard the competitiveness of nearly 45 per cent of India’s aluminium exports originating from AA/EOU/SEZ units.In a letter to Commerce Secretary Shri Sunil Barthwal, FIMI noted that the lapse in RoDTEP coverage beyond 5 February 2025 places Indian producers at a 5-10 per cent cost disadvantage due to embedded taxes. The sector, with $20 billion in investments and 4.1 million tonnes annual capacity, is the world’s second-largest aluminium producer.FIMI warned that delays could lead to production cuts, job losses, and reduced domestic value addition. While the scheme had been extended thrice, the industry awaits formal notification of coverage post 6 February 2025.

Next Story
Infrastructure Transport

Dassault To Build Falcon Jets In India With Reliance

Reliance Infrastructure Ltd’s subsidiary, Reliance Aerostructure, has signed an agreement with France’s Dassault Aviation to manufacture Falcon 2000 business jets in India, with the first batch expected to roll out from its Nagpur facility by 2028. This marks the first time a Falcon aircraft will be entirely built outside France.The announcement sent Reliance Infrastructure shares surging, hitting the 5 per cent upper circuit on the BSE. Anil Ambani, Chairman of Reliance Group, hailed the agreement as a “symbol of India’s technological and manufacturing strength�, adding that it aims..

Next Story
Infrastructure Urban

INDEA Lays Foundation for India’s First Auto Design School

The Indian School for Design of Automobiles (INDEA), the country’s first institute focused solely on automobile design and management, held its foundation stone ceremony at XLRI Delhi-NCR. The event was graced by Union Minister for Road Transport and Highways, Nitin Gadkari, who virtually unveiled the stone as Chief Guest.INDEA aims to become a premier talent hub, driving innovation in the Indian automotive sector. The school will focus on advanced design, mobility solutions, and sustainable practices, playing a vital role in shaping India’s transition from a cost-driven to a quality-led a..

Next Story
Infrastructure Transport

Karnataka Launches Global Innovation Hub at Airport City

The Government of Karnataka, in collaboration with Bengaluru Airport City Limited (BACL) and ANSR, has launched a global innovation hub named District I at Bengaluru Airport City's business park. The initiative aims to elevate India’s innovation ecosystem to a global scale by fostering collaboration among startups, academia, enterprises, and government bodies.District I will serve as a platform for deep-tech entrepreneurship, enterprise innovation, and commercialisation of academic research. It brings together Global Capability Centres (GCCs), IT firms, corporate labs, startups, venture capi..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement