Sunday, December 21, 2008

Brass Parts Industry Collapsing On Raised Import Tariffs

Brass Parts Industry leader asked for reduction in Customs tariff, what they got was increase in the tariffs.

This now lead to collapse of the only surviving native industry in Jamnagar.

Due to increase in Brass Part Industry raw material, more than 60 per cent of the units are closed.

Brass Part Industry in jamnagar employs nearly 1.5 lakh workers.

There are around 4,000  Brass / metal Part industry units in Jamnagar, almost 90 per cent of which runs on imported brass scrap mainly received from China.

These Brass Parts units are now in a shock when the Centre raised Customs duty by 567 dollars per metric ton on December 15, these is double the price of the earlier brass part import price, this also resulted in backlog of 300 brass scrap containers at the Kandla Port.

Brass parts industry in Jamnagar accounts for 80 % of the total brass components (electrical, automobile or sanitary) produced in India.

Thousands of many small Brass parts unit owners in Jamnagar are collapsing,
  earlier they used to earn 40-50 lakh per annum unit, now these units can not even touch mark of Rs 6-8 lakh.

Naturally this is way too insufficient.

If govt will not act soon, remaining Brass Parts unit may need to close as well.


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