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India new scrap policy will have severe impacts, warns BMR
Apr 14,2015 11:22CST
industry news
Source:SMM
The Bureau of Middle East Recycling (BMR) in a letter addressed to the Indian Ministry of Commerce has stated the new foreign trade policy on scrap imports as ‘not practical’.

Author: Paul Ploumis
13 Apr 2015 Last updated at 08:30:26 GMT
ABU DHABI (Scrap Monster): The Bureau of Middle East Recycling (BMR) in a letter addressed to the Indian Ministry of Commerce has stated the new foreign trade policy on scrap imports as ‘not practical’. The recycling association also warned that the new inspection regulations are likely to have serious implications on scrap metal exports from the Middle East region to India.

According to BMR, the changes announced in policies without notice period have caused negative impacts on scrap metal exporters and traders in the region. As one shipment may contain up to 12 containers, making a video of each container is not practical. Alternatively, photos of entire loading process could be asked for, BMR noted. The Bureau also pointed out that restricting the authorized persons to inspect cargoes to India will also be ‘impossible. More flexibility should be granted for inspection agencies to appoint officials at different points.

BMR also called upon the Indian Ministry to delay the implementation of the new regulations by 90 days, as unilateral implementation of policies without consulting the interested parties is unfair. The immediate implementation of the new policy will hurt scrap trade to the country, BMR stated in the letter.

The Indian Directorate General of Foreign Trade (DGFT) in its updated handbook on procedures had made it mandatory for all exporters to record a video of their scrap shipments to India. The new procedure, implemented with effect from April 1st, is applicable to shipments including iron, steel, copper, brass, nickel, aluminum, zinc, tin and magnesium scrap.
 

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