New Delhi: Without naming China, Piyush Goyal, minister of state for coal, power, mines and renewable energy, said a "neighbouring country" was exporting subsidized Aluminium to India.
"A neighboring country puts export duty on primary aluminium products. There are many countries which export their excess production to India at very low prices," Goyal said at the Global Natural Resources Conclave. "Very often they subsidise and give export subsidy where value added products come to india."
Goyal said that India produces Alumina in fair measure and could use this raw material for the aluminium needs for the country. But the country exports the raw materi rather than process it here and create value added jobs, which could create wealth and jobs in India.
"We continue to depend on large amount of imports, both of alumina and aluminium products. Instead of adding value, the country is still dependent on imports," Goyal told the gathering comprising of business leaders from extractive industries, political leaders and CEOs.
The effect of this is that jobs are lost at every step of the value chain. Goyal said that it is important to support manufacturing domestically and become self reliant in the production of aluminium.
Source: news18.com