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Goods and Service Tax, import duty and absence of other initiatives for a circular economy are hindering metal recycling, industry body officials said on Wednesday.
With more headwinds expected from scrap-exporting countries in near future, the country needs to remove ambiguity to showcase India’s commitment to a circular economy, aiming at reducing emissions, they said.
“There is a wrong message going out to the world that India is not committed to the use of scrap by imposing a duty of 2.5 per cent. Europe, a major exporter of scrap, is now drawing rules and regulations that will make it difficult to import unless India takes proactive steps,” said senior vice-president of Material Recycling Association of India (MRAI), Dhawal Shah.
He made these remarks on the sidelines of the 11th International Material Recycling Conference.
First Published: Jan 24 2024 | 4:35 PM IST
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