New Delhi: Tyre dealers on Thursday demanded abolition of 10 per cent import duty on tyres to check "unfair and exploitative behaviour of the domestic tyre industry".
In its wishlist for Budget 2015-16, the All India Tyre Dealers' Federation (AITDF) said import duty needs to be removed to check "unfair and exploitative behaviour of the domestic tyre industry".
The domestic tyre manufacturers, in their pre-Budget submission to the Finance Ministry, had demanded that the customs duty on tyre imports be doubled to 20 per cent.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
AITDF alleged that domestic tyre manufacturers are charging exorbitantly high and unfair tyre prices despite the raw material prices having declined to 2008-level.
The tyre dealers demanded abolition of 10 per cent duty to "counter the domestic tyre cartel", AITDF said in a statement.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
