The reason for the claims is the new Indian government policy, which provides a minimum payment from corporations to electronic waste processors.
South Korean companies LG and Samsung filed a lawsuit against the Indian government with the request to cancel a new policy that provides for minimal payment from corporations to electronic waste. This was reported by the Reuters News Agency.
India is the third in the volume of electronic waste processor in the world after China and USA. However, last year, only 43% of these waste were processed, and about 80% of the sector were informal scrap collectors.
Samsung and LG previously opposed the decision to introduce minimum payment to the processors, explaining this by the fact that such a step would significantly increase their costs.
The Indian government insists that new policies are required for the attraction of more official industry players and stimulate investment in processing. According to new rules in India, companies must pay at least 25 US cents for every kilogram of electronics to be processed. According to manufacturers, they cost almost three times and will only benefit processors.
Samsung in its lawsuit says “price regulation on its own will not help protect the environment,” and warns “significant financial burden.” In his lawsuit, Samsung indicated that he contacted the Prime Minister Modi’s office with warning: new tariffs were 5-15 times higher than the current payment level.
The LG in a letter to the government in August said the suggested rates were “too high and should be reduced”, and prices should be left behind at market decisions.
The Indian manufacturer of the Blue Star also filed a lawsuit, which determines excessive pressure regulation. At the same time, the Johnson Controls-Hitachi recently removed its lawsuit without explanation.
Prior to this, similar claims were filed by Daikin, Indian Havells and Voltas (part of the Tata Group).
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.