Iron ore export duty hike ‘self-defeating’

On Saturday, the government announced that with effect from Sunday export tariffs on new iron ores and concentrates would be raised to 50% from 30%, and duties on pellets would be hiked to 45% from zero. The government also removed import tariffs for coking coal and coke.

NEW DELHI: The increase in export taxes on iron ore, announced by the Indian government over the weekend, will lead to large surpluses at home, and mainly hit producers of low grade ores that depend on overseas markets, a mining industry body says.

On Saturday, the government announced that with effect from Sunday export tariffs on new iron ores and concentrates would be raised to 50% from 30%, and duties on pellets would be hiked to 45% from zero. The government also removed import tariffs for coking coal and coke.