Export duty removal will lead to era of growth for steel industry: Jyotiraditya Scindia
Union minister Jyotiraditya Scindia has said removal of export duty on steel products will lead to a new era of growth for the domestic steel industry which has gained footprint internationally. He added after so many years, Indian steel industry has been able to enlarge its footprint globally and therefore it was 'our (government) job to provide a fillip' to the industry.
The government had cut the export duty on steel products and iron ore to nil with effect from November 19, 2022 -- six months after imposition of the levy on May 21.
Exports of specified pig iron and steel products as well as iron ore pellets will attract 'nil' export duty. Also, export duty on outward shipment of iron ore lumps and fines with less than 58% iron content will be 'nil'. In the case of iron ore lumps and fines with more than 58% iron content, the rate of duty will be 30%.
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