In a move that may spell trouble for private sector utilities and Chinese makers of power generation equipment, heavy industries minister Praful Patel has called a meeting today to discuss and push for the imposition of customs duties on imports of such equipment. The meeting will be attended by officials from the ministries of heavy industries, commerce and power, and follows demands by local manufacturers to restrict Chinese power equipment importsm which grabbed market share over the years due to 20 per cent cheaper prices. If the duty, to be levied on power equipment import in form of Basic Custom duty, is agreed upon in the meeting, it will turn out to be helpful for Indian players like L&T, BHEL, BGR, Thermax among others.
Source: profit.ndtv.com
No comments:
Post a Comment