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Need for well-developed non-ferrous metals industry in India: Niti Aayog Member
Oct-23-2020

Niti Aayog Member V K Saraswat has said that there is a need for a well-developed non-ferrous metals industry in India as it provides important raw material to many sectors which are the backbone of economic development. He also said ‘with increasing usage of non-ferrous metals in several existing as well as emerging applications coupled with new technologies, we can expect a paradigm shift that can change the way non-ferrous metals will be produced and consumed in the future’.

In order to further boost the sector, Saraswat has emphasized on early implementation of the recycling policy.  He noted that the much-needed reforms on guidelines or standards for boosting domestic scrap recycling would be addressed by the Metal Recycling Policy which the government has formulated along with the industry stakeholders. He added that the industry must also invest more on R&D in order to become globally competitive.

Niti Aayog Member further said that the government's role is to provide policy initiatives and ease of doing business, but industry must come forward with investments in high-value products for producing not only for the domestic markets but also for exports. He pointed out that the government is working on issues like inverted duty structure, dumping of goods under various FTAs, poor infrastructure, high logistics and power costs and taxation. 

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