The Indian Paper Manufacturers’ Association (IPMA) has sought levy of 10 percent special additional duty on imports of paper and paperboards into India.
It has also suggested that the basic customs duty on import of paper and paperboard from ASEAN countries be pegged at the Most Favoured Nation (MFN) rate. Currently, all paper imports from ASEAN attract ‘Nil’ rate under an existing FTA.
These suggestions were made by the IPMA President Sanjay Singh during a recent presentation to the Finance Minister Arun Jaitley in the Capital.
Singh said these measures are required to ensure that the capital already invested and proposed to be invested in further capacity creation in India is safeguarded and incentivised.
IPMA has sought review of all existing free trade agreements (FTAs) and suggested keeping paper in the negative list in all existing and upcoming FTAs.
“We were highly emboldened by the Make-in-India initiative of the new Government. However imports continue unabated and several players are wary of further investments”, Singh said.