India to Adjust Chrome Ore Exp. Tariff

Last Friday (March 16), Indian Finance Minister announced that India will adjust tariffs on chrome ore exports and cancel basic tariffs on nickel ore imports.

After adjusted, tariff on equipments for building or expanding iron ore pelletizing plants and iron ore dressing plants will be lowered to 2.5%, the export tariff on chrome ores and concentrates will be changed from specific tariff of 3,000 rupees/ton to ad valorem tariff of 30%.

Nickel ores and concentrates under HS code 26040000 will be fully exempted from tariffs. Tariff on nickel oxides and hydroxides under HS code 28254000 will be lowered from 7.5% to 0.