New Delhi, May 2 (Inditop.com) The Federation of Indian Chambers of Commerce and Industry (Ficci) has urged the government to formulate rules for the import of second hand capital goods and make those accessible to the industry.
The import will provide the industry quality equipment and safety to the workers, said the industry lobby in a letter to the government.
“Various countries like China, Australia and many South East Asian countries have such rules governing the imports of second hand capital goods,” Ficci said.
It suggested that import of second hand machinery should not be encouraged where indigenous sources are adequately available.
“Tariff duty applicable on import of second hand machinery should be at least 10 to 15 percent higher than the rate applicable to new machinery,” the Ficci said.
It also said plants over 10 years old and valued above Rs.50 crore should not be permitted for re-location from outside India into the country without a licence.
