Govt scraps export duty on iron ore pellets
Amid subdued demand and weakening prices, iron-ore pellet makers and some miners had sought reduction of export duty on iron ore to make the industry competitive The Dollar Business Bureau The government has already taken several measures such as imposing safeguard duty, increasing customs duty and implementing stringent quality guidelines for imported steel Addressing long-pending concerns of the domestic iron and steel industry, the government has scrapped export duty on iron ore pellets, thus giving a fillip to the sector which has been battling global demand slump and weak prices in the international market. GOI removes 5 % export duty on iron ore pellets. This would improve capacity utilization of pellet plants and give necessary boost to sector, Narendra Singh Tomar, Union Minister ...
