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`Restore DEPB scheme for stainless steel'

Our Bureau

New Delhi , March 8

THE Indian Stainless Steel Development Association (ISSDA) has urged the Ministry of Steel to restore the Duty Entitlement Pass Book (DEPB) scheme for stainless steel items.

According to the ISSDA President, Mr N.C. Mathur, while the domestic production of stainless steel and special alloy steel is around 1.15 million tonnes, the total domestic consumption is around 5.9 lakh tonnes and exports account for 5.6 lakh tonnes.

Explaining the rationale for continuing the DEPB scheme for this sector, the association, in a presentation to the Steel Ministry, has stated that there are more than 40 large, medium and small stainless steel downstream processors in the country who produce value-added items all over the country. This segment is exporting almost 100 per cent of its production into the international market and the pricing is fully determined by DEPB rates.

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`Restore DEPB scheme for stainless steel'

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