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Topic : Challenges in power sector
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import duty on power equipment

Created by : Surya Murthy, Deputy Bureau Chief, The Telegraph  | 02 04 2012 18:37:36 +0000
Industry : PowerFunctional Area : Business Policy(Strategy & Execution)
Keywords : india china power energy
Activity:  93 views;  last activity : 02 04 2012 18:37:36 +0000
 
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Will protect domestic manufacturers Vs result in slow down in generation capacity addition
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finance ministry has called a meeting on monday to look at imposing import duty on boilers and turbines. Ministry of Power and Heavy Industries are pitting for it, so as it would protect the interest of domestic power producers like BHEL, L&T. However, the move would result in slow down in generation capacity addition as domestic firms have order books full for the next five years. In the past two years, most of the power equipment contracts have gone to chinese firms, it is primarily due to lower cost of the product and the cheap financing incentive provided by them. What options government has in these condition, when it has to aid in capacity addition for the economy to grow at 9 per cent during the XIIth five year plan period. It cannot let the domestic industry die and make the power sector totally dependent on the chinese firms. Perhaps, a way out would be marginal import duty and incentive for setting up manufacturing units in the country
By Surya Murthy, Deputy Bureau Chief, The Telegraph  | 02 04 2012 18:37:36 +0000
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