- The government was mulling regulations to restrict imports of used capital goods and even withdraw benefits given under the EPCG on importing second-hand capital goods.
- Restriction on imports of used capital goods under the Export Promotion of Capital Goods scheme will have adverse effects the domestic textile industry and the machine tool sector
- According to the FIEO, adequate anti-dumping duty and safeguard duty mechanisms are in place to counter any adverse impact of mass import to the domestic sector.
- At present, under EPCG scheme a domestic manufacturer can import used capital goods at only 3 percent customs duty, irrespective of the applicable duty rate.
- Domestic players in the capital goods sector have been demanding such regulatory measures for a long time. The industry is for establishing a single port of entry for monitoring age of the equipment entering the country.
|
