India Budget: Govt extends duty exemption on ferrous scrap imports

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India’s budget for FY23 was presented today by the Hon. Finance Minister.
As per latest SteelMint reports, the customs duty exemption on imports of ferrous scrap has been extended for another year.
Notably, in last year’s budget, duty on ferrous scrap imports was reduced to 0% from 2.5% earlier. India imported around 3.7 mn t of ferrous scrap in CY’21.

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