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Export duty on steel, iron ore removed
The government has withdrawn or cut export duty on steel products and iron ore effective Saturday. In May, the government had levied an export duty charges varying from 15 per cent for steel exports to around 50 per cent iron-ore (including concentrates). Incidentally, the country turned a net importer of steel (imports exceeding exports) in October – the second time this fiscal. Related Stories India saw zero iron ore exports in Sept, Oct sales depressed too September and October of FY23 are now the worst two-month-period for Indian iron ore traders in the last four years READ NOW In October 2022, the category saw a 205 per cent rise – the highest in recent times – recording an overseas sales of 295,000 tonnes. For the first seven months of this fiscal, there was a 145 per cent rise in alloy and stainless-steel exports, to 1.64 mt as against 0.7 mt, in the year-ago period. Source - thehindubusinessline
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