FIMI urges Indian government against imposing export duty on low-grade iron ore, citing economic impacts on revenues, employment, and foreign exchange.
Miners' body FIMI urges the Indian government not to impose an export duty on low-grade iron ore, citing potential losses in state revenues, employment, and foreign exchange earnings. The group warns that a ban or duty could reduce iron ore production capacity from 330 million tonnes in FY'25 to 225 million tonnes. The mining sector, with iron ore accounting for 45,000 direct and 450,000 indirect jobs, contributes significantly to the country's GDP.
March 24, 2024
4 Articles