The forthcoming budget could bring some cheer to domestic power equipment makers, including Bharat Heavy Electricals and Larsen and Toubro, as the finance ministry is considering levying duty on imported equipment.
"There is a proposal...we are examining it in detail," said a ministry official.
Domestic power equipment makers have for long lobbied for imposition of Customs duty on imported Chinese tools to offset some of the higher costs they incur at home.
Their key complaint against Chinese imports has been that their producers enjoy lower interest rates and an undervalued currency, giving them an edge in pricing over Indian equipments.
At present, projects under 1,000 MW attract 5% import duty while the rest enjoy duty-free import of equipment.
ref:
http://economictimes.indiatimes.com/news/economy/foreign-trade/government-closer-to-imposing-duty-on-imported-power-tools-bhel-lt-to-benefit/articleshow/11518822.cms
Monday, January 16, 2012
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