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Drumbeat: Ad Buzzaar
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Friday, June 26, 1998
Ball-bearing traders call for strike
Ketan Modi
MUMBAI, June 25: The All India Ball Bearing Merchants' Association has given a nation-wide trade bandh call on June 26 to press for their demand of import duty rationisation. The bearing market in Delhi, Calcutta and Chennai besides Mumbai will remain closed in response to the call. Trade also contemplates an indefinite strike if their demands are not met with by the Union finance ministry.This was announced at a press conference held in Mumbai today. The president of the association, Prem Harchandrai said the duty structure announced as part of the current budget extended the scope of weight duty of Rs 150 per kg to ball bearing housings which are mere cast iron bodies not worth over Rs 20 per kg. This will lead to large scale smuggling of this item through Nepal, Myanmar and Pakistan, he claimed. He said though ball and roller bearings were considered capital goods items, the tariff research unit in the Central Board of Excise and Customs had deemed it fit to club it with consumer items like alcoholicbeverages, personal baggage and dry fruits.This was being done as an excessive protection to the domestic bearing manufacturers who are basically MNCs and are involved in manufacturing of a limited range of bearings against the demand of 35,000 variations available in global market. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.

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