Aluminium Industry Calls for Hike in Import Duty.

Aluminium industry has requested the government to increase import duty on aluminium products to protect.

"We have requested the government to impose taxes on import in such way that the landing price of the product should be higher than that of the domestic price," said S S Murthy, General Secretary of the industry body Aluminium Association of India.

AAI has sought immediate government action on the request to protect the domestic industry from cheap imports, Murthy told reporters here, adding that the cabinet is expected to approve the demand.

The aluminium industry has planned major capacity expansion involving investments of over Rs. 1.2 lakh crore that would take production capacity to 5 million tonnes per annum by 2017 against 1.5 million tonnes presently.

Murthy said aluminium consumption is expected to come largely from packaging, automobiles, power generation and transmission, railways, aviation and telecom sectors.

According to AAI estimates, the packaging sector alone is estimated to consume 15-20 per cent of the domestic aluminium production.

Meanwhile, AAI said Hyderabad will host INCAL 2011 -- the 6th international conference on aluminium, organised once every four years -- from December 6 to 8, AAI said.

Source : profit.ndtv.com