India May Review Export Duty Structure on Iron Ore

Economic Times reported that Indian mines ministry is likely to seek review of present export duty structure on iron ore, which stands at 30% on all grades, to boost sagging exports.

India's mines minister Mr Dinsha Patel told reporters that "There should be a review. Exports have come down significantly... domestic industry should not be in problem. We will speak to ministries of finance and commerce on this issue."

Mines secretary Mr Vishwapati Trivedi said his ministry will soon present its case before the finance ministry on present duty structure, seeking a review as iron ore exports have come down significantly in the last fiscal.

He said that "We are trying to find out the whether this is a time to give boost to the industry, even a temporary, by reducing the export duty. We are positive that we should be able to make a case".

He added that his ministry may write to its finance counterpart in next 10 to 15 days."