Issue link: https://read.dmtmag.com/i/732012
I DA U N I V E R S A L S e p te m b e r - O c to b e r 2 0 1 6 39 An industry body in Gujarat has strongly opposed imposition of minimum import price (MIP) on steel products, saying it will lead to closure of units in Kutch Region of the state and also other parts of the country. e Federation of Kutch Industries Association (FOKIA) said it has raised the issue with the Centre and demanded discontinuation of the measure. Talking to PTI here on Sunday, Nimesh Phadke, managing director of FOKIA, said "we raised this issue in a meeting called by Chaud- hury Birendra Singh, Union Steel Minister, in New Delhi on July 28. He had convened the meeting to discuss the issue of MIP, safeguard and anti-dumping duties on steel products." Singh asked representa- tives of FOKIA and other associations to explain their TRENDS AND TIDBITS continued from page 27 Trends continued on page41 End Minimum Import Price on Steel Items: Gujarat Industry Body diffi culties and sought their views on how to revive the steel industry. To aid domestic compa- nies, the government imposed MIP in February 2016 on 173 steel products for a period of six months (ending in August) to help cut inbound shipments. If this measure continues, revival of the steel industry will become diffi cult, he said, adding that in the era of global- ization, imposition of MIP is an "anti-reformist" move. Sales of construction equipment in Italy rose 22 percent during the fi rst six months of 2016, compared to the same period a year ago, according to Italian construction equipment associa- tion Unacea. It reported that, in total, 4,723 machines were sold during the six-month period. e majority were earthmoving machines, with 4,617 sold, which was a rise of 24 percent. e remaining 106 were roadbuilding machine sales, which was a decrease of 33 percent. Unacea said Italian exports of construction equipment between January and March rose 1.2 percent to €810 million. It said that exports of drilling equipment during the three- month period rose 50 percent, while exports of tower cranes Consequent to heavy duties being imposed on the steel products, the raw material costs have gone side in the past fi ve months and also resulted in loss of jobs, he said. For example, raw material cost for saw pipe has increased since MIP. Kutch, the world's largest hub in terms of capacity for submerged arc-welding pipe manufacturing (SAW), is being adversely aff ected, Phadke said. " ere are instances where, in international bidding, our industries are losing contracts due to cost factor. e domestic steel process industries and micro, small and medium enterprises, scattered all over the country, will have to shut their shops if the MIP on raw materials continues for a further period (beyond August)," he said. e Minister gave a patient hearing to representatives of various industry bodies on issues pertaining to steel industries and assured them the Centre will take appro- priate action in the interest of the sector, Phadke added. ● www.business-standard.com 7/16 Italian Equipment Sales Rise increased 13 percent. However, there were declines in exports of crushing and screening equipment (down 21 percent), roadbuilding machines (10 percent), concrete equipment (8 percent) and earthmoving machines (3 percent). Italian imports of construction equipment also grew, said Unacea, by 13.8 percent to €210 million. It said that imports of roadbuilding equipment grew 46 percent, while drilling machines (38 percent), concrete equip- ment (37 percent), earthmoving machines (18 percent), and crushing and screening equipment (1 percent) also increased. Imports of tower crane fell, however, some 38 percent. ● www.khl.com 7/16