There is no proposal before the government for revising export duty on iron ore —— a key ingredient for making steel, Parliament was informed today.
Certain grades of iron ore are already regulated as per Foreign Trade Policy 2015—20. Besides, the differential duty has been imposed on various grades of iron ore to regulate the exports, Commerce Minister Nirmala Sitharaman said in a written reply to Lok Sabha.
Most of the measures are already in place to regulate exports of iron ore to meet domestic requirements, she added.
“At present, there is no proposal for revision of export policy of iron ore,” the Minister informed the House.
Goa’s mining industry has been urging the government to remove the 10 per cent export duty on iron ore shipped from the state.
There is 10 per cent export duty on shipment of iron ore with iron content less than 58 per cent.
Goa mainly produces low grade iron ore (with iron content between 55—58 per cent), which is mainly exported to countries such as China and Japan.
As per data provided by Sitharaman in the House, India exported 53.35 million tonnes (MT) of various grades of iron ore during April— August period of the current fiscal.