Taking up the cause of the domestic soda ash industry, the Associated Chambers of Commerce and Industry of India (Assocham) recently said that the reduction in basic customs duty on soda ash imports f…
Taking up the cause of the domestic soda ash industry, the Associated Chambers of Commerce and Industry of India (Assocham) recently said that the reduction in basic customs duty on soda ash imports from 35% to 20% would only benefit the “cartels” operating in China and the US, at the cost of the Indian soda ash industry. In a post-budget memorandum to the government, the chamber said that such a “steep” reduction is fraught with danger of excessive imports. “The domestic industry is already saddled with excess capacity by over 25%. The duty reduction will lead to an increase in dumping operations of the cartels, and the domestic market will be flooded with cheap imports,” the chamber continued.