New Delhi: Industry body Assocham on Friday asked the government to impose 30% export duty on iron ore pellets, fines and lumps with immediate effect to discourage circumvention of export duty and increase iron ore availability for domestic steel industry.
‘Iron ore production in India has plummeted significantly by 14% to 70 million tones (mt) in the first half (H1) of 2013–14 from 82 mt in the corresponding period last year’, Assocham said in a letter addressed to Finance minister P Chidambaram.
‘Ironically, while the domestic iron and steel industry is facing severe shortage of iron ore and is operating at very low capacity utilization, at the same time the exports of iron ore are registering a triple digit growth on sequential quarter basis’, it said in the letter.Read more
‘Iron ore production in India has plummeted significantly by 14% to 70 million tones (mt) in the first half (H1) of 2013–14 from 82 mt in the corresponding period last year’, Assocham said in a letter addressed to Finance minister P Chidambaram.
‘Ironically, while the domestic iron and steel industry is facing severe shortage of iron ore and is operating at very low capacity utilization, at the same time the exports of iron ore are registering a triple digit growth on sequential quarter basis’, it said in the letter.Read more
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