“Earlier budgets had lowered the import duty from 5% to 2.5%. A case for completely doing away with the basic customs duty has been made to the finance ministry for inclusion in Budget 2025-26,” a senior government official told ET.
Import of copper scrap in the first seven months of the current fiscal increased by 33.42% year-on-year to touch ₹11,476.76 crore. During this period, Saudi Arabia remained the largest source country, exporting copper scrap worth ₹2,208.43 crore to India.
Import duty on copper scrap was reduced to 2.5% in the budget for 2021-22. The current year’s budget has maintained the concessional customs duty on copper while completely doing away with it for other critical minerals such as lithium.
-
Artificial Intelligence(AI)
Java Programming with ChatGPT: Learn using Generative AI
-
Artificial Intelligence(AI)
Basics of Generative AI: Unveiling Tomorrows Innovations
-
Artificial Intelligence(AI)
Generative AI for Dynamic Java Web Applications with ChatGPT
-
Artificial Intelligence(AI)
Mastering C++ Fundamentals with Generative AI: A Hands-On
-
Artificial Intelligence(AI)
Master in Python Language Quickly Using the ChatGPT Open AI
-
Marketing
Performance Marketing for eCommerce Brands
-
Office Productivity
Zero to Hero in Microsoft Excel: Complete Excel guide 2024
-
Finance
A2Z Of Money
-
Marketing
Modern Marketing Masterclass by Seth Godin
-
Astrology
Vastu Shastra Course
-
Strategy
Succession Planning Masterclass
-
Data Science
SQL for Data Science along with Data Analytics and Data Visualization
-
Artificial Intelligence(AI)
AI and Analytics based Business Strategy
-
Web Development
A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024
-
Marketing
Digital Marketing Masterclass by Pam Moore
-
Artificial Intelligence(AI)
AI-Powered Python Mastery with Tabnine: Boost Your Coding Skills
-
Office Productivity
Mastering Microsoft Office: Word, Excel, PowerPoint, and 365
-
Marketing
Digital marketing – WordPress Website Development
-
Office Productivity
Mastering Google Sheets: Unleash the Power of Excel and Advance Analysis
-
Web Development
Mastering Full Stack Development: From Frontend to Backend Excellence
-
Finance
Financial Literacy i.e Lets Crack the Billionaire Code
-
Data Science
SQL Server Bootcamp 2024: Transform from Beginner to Pro
This was done to promote recycling in the country as the basic raw materials will become economical.
“While copper is not a categorised as a critical mineral in India, it finds application across industries driving up its value,” the official said. “The push for domestic electric vehicle (EV) and electronics manufacturing has also raised its demand.”
According to industry representatives, the savings in custom duties will help to invest in modern recycling technologies, enabling industry to improve the quality of recycled copper.
