News Room - Steel Industry

Posted on 03 Sep 2008

India likely to hike iron ore export tax

It is reported that Indian government is considering raising the tax on exports of iron ore.

Mr Ram Vilas Paswan steel minters after meeting officials of steel makers told reporters that "One issue being considered is raising the export tax on iron ore. The government is considering it."


In the ongoing tussle between steelmakers and miners, steel makers have asked for hiking export tax to 35% from existing 15%.


India exported about 93 million tonnes of iron ore in the fiscal year ending March 2007, out of which about 75% went to China. Local miners say this could halve in the year to March 2009 as the existing tax makes rival suppliers attractive.