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Rollback of iron ore export duty will kill steel industry: Assocham

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SummaryApex industry body Assocham on Monday cautioned the government against the renewed demand of a section of mining industry for reviewing the export duty structure on iron ore.

Apex industry body Assocham on Monday cautioned the government against the renewed demand of a section of mining industry for reviewing the export duty structure on iron ore.The structural deficit of iron ore availability for domestic steel industry is because of an upper cap in iron ore production coupled with various environmental concerns, the chamber said in a communication to steel secretary DRS Chaudhary. Instead, the Centre must stay vigilant and not repeat the saga of illegal mining caused by unrestrained iron ore exports, Assocham said."India has added a huge capacity for agglomeration i.e. pelletlisation and sintering during the course of past few years due to the government decision to adopt fiscal measures to conserve iron ore resources against the demand of steel industry to ban iron ore exports," the chamber said.

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