Indian Government Set to Ban Import of Used Machinery

Do you import machinery and construction equipment?

Maybe you export machinery around the world, to India perhaps?

The Indian government is looking at restricting the import of used plant and machinery. The domestic capital goods industry says imports are partly responsible for the drop in output, so the move is aimed at safeguarding the productivity and competitiveness of Indian manufacturers.

The government is also considering an import duty on 75% of the ORIGINAL value of machinery – which will drive up the costs for importers, compared with the value of the machinery at present that is currently in place.

This follows a move made in April by the commerce and industry ministry that withdrew the facility for domestic firms to issue equity to overseas companies against the import of used goods.

For the full story from The Economic Times, click here.

 

 

 

We have many customers in India that this decision may affect, purchasing used and refurbished welding and cutting equipment, we want to know how you feel about this move by the Indian Government, do you think the manufacturing industry will gain or suffer from this?

If put into effect, will this affect you or your company? If so how?

We would like to know thoughts from our customers and consumers, please leave your comments below,

Thanks!

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One Response to Indian Government Set to Ban Import of Used Machinery

  1. Machines used to process heat-resistant plastic must be exact. Materials of the machines will be influence the appraisal values. You can judge from the other factors to increase the appraisal value. Do not forget to consider the condition of the machines.

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