Govt body not in favour of safeguards on unwrought Aluminium ....!

The directorate General of Safeguards, which comes under the finance ministry, said import had come down while production and sale of unwrought Aluminium that is extracted from primary metal or scrap, had gone up.

An Indian govt body has decided against imposing safeguards on some Aluminium products citing lack of evidence over imports hurting profitability of domestic industry.The directorate General of safeguards,which come under the finance ministry, said imports had come down while production and sale of unwrought Aluminium that is production extracted from primary metal or scrap, had gone up'...

"There exists an injury to DI (Domestic Industry) but there exists no serious injury or threat of serious injury to domestic industry in the POIC( Period of investigation) and hence no protection under the safeguard law is required,"the direcortate said in a notification dated Dec 13.In APRIL, the government began probe into imports of unwrought Aluminium after complaints from local companies including Vedanta Ltd and Hindalco Industries Ltd.