Pellet Manufacturer Association of India has sought export incentives, especially duty drawback, from the government, stated Manish Kharbanda, the association president and adviser-corporate affairs at Jindal Steel and Power. The steel industry was among the sectors which have made representations to the Indian finance minister Nirmala Sitharaman, since it relies heavily on both exports and imports.
Iron pellet makers earlier enjoyed a duty drawback of 2.5-3pc, which the association wants to be restored. Kharbanda stated it could aid the “Make in India” policy. He said that mills export only 10-11pc of the output. With the industry still operating at 80pc, domestic demand for pellets is under pressure. Thus, should the much talked about duty be imposed on exports, it could be counter-productive, he noted.