India: FY25 Budget– What’s new in ferrous metal scrap Basic Customs Duty ?

In the recent FY’25 Budget announcement, the government has continued the nil Basic Customs Duty (BCD) on ferrous metal scrap, maintaining the same policy as in FY’24, and the import duty exemption is extended till 31 March 2026. Market experts believe this decision aims to support Indian secondary mills and primary sectors that are active in achieving net-zero carbon emissions and advancing their decarbonisation goals in the near future.