Industry chamber FICCI has recommended the Government to reduce customs duty on ethyl alcohol and methyl alcohol and increase customs duty rate of ethyl acetate.  It has also requested that full exemption from the levy of customs duty may be granted on imports of membrane cell plant /electrolysers, membranes & their parts for manufacturing caustic soda. “Besides simplifying regulatory processes and compliance related issues, the government will have to look at policies specific to the chemical manufacturing sector to generate sizable impact. Industry feels Free Trade Agreements (FTAs) are having a negative impact on business. FTAs create an ‘inverted duty structure’ making it cheaper to import a finished product rather than manufacturing or assembling it in India,” FICCI stated in a pre-budget memorandum to the Government. Industry scenario and recommendations: The Indian Chemical Industry is an integral part of Indian economy. The industry has key li...