Budget 2026 metal sector expectations: MMTC-PAMP pushes for duty parity for refiners

As the Union Budget 2026 approaches, expectations are mounting within India's precious metal refining industry. Among the key players, MMTC-PAMP, a leading refiner, is advocating for duty parity to ensure a level playing field. This call for equitable tax treatment aims to bolster domestic refining capabilities and align Indian refiners with international standards, enhancing competitiveness in the global market. The current duty structure, according to industry experts, places domestic refiners at a disadvantage compared to their international counterparts. MMTC-PAMP and other stakeholders argue that revising these duties could stimulate growth and attract investment, ultimately benefiting the broader economy. By addressing these disparities, the government has the opportunity to support the sector's expansion and make it a significant contributor to India's GDP. In addition to duty parity, refiners are also seeking clarity on policies that impact their operations, such as those related to import-export regulations and incentives for technological advancements. As the budget announcement looms, the metal sector remains hopeful that the finance minister will address these concerns, paving the way for a more robust and competitive industry.

— Authored by Next24 Live