'New import policy for marbles, blocks to curb monopoly'.

New Delhi, Sep 19 : Government's new import policy for different types of marble and travertine blocks will curtail monopolistic and restrictive trade practices while ensuring availability of raw material to factories, the Delhi Marble Dealers Association said today.

The quantitative restriction on the import of Marble & Travertine Blocks, and the associated administratively cumbersome and restrictive import licensing system has been brought to an end under the new policy coming into effect from October 1, 2016.

Terming the announcement an end to the "unfair and unethical License Regime on import of Raw Marble Blocks", Chairman of the Association's import committee Parveen Goel said the move will provide a level playing field to players in the industry and may help revive sick units, thereby creating employment opportunities.

The Minimum Import Price (MIP) for marble blocks has been reduced to USD 200 per metric tonne to address the distortions associated with an MIP.

To address the interest of domestic producers, the basic customs duty on import of marble and travertine blocks will go up four times from the present 10 to 40 per cent.

The MIP on the import of marble slabs is being reduced to USD 40 per square metre to address the distortion associated with MIP.

In order to address the interest of domestic producers, the basic customs duty on import of marble slabs is being doubled from 10 to 20 per cent.

The MIP on the import of granite slabs is being reduced to US Dollars 50 per square metre to address the distortion associated with MIP.

In order to address the interest of domestic producers, the basic customs duty on import of granite slabs is being doubled from 10 to 20 per cent in this policy.

Source : timesofindia.indiatimes.com