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`CURB IRON ORE EXPORTS': (From left) Mr Moosa Raza, President, Indian Steel Alliance, Mr Anil K. Agarwal, Past President, Associated Chambers of Commerce and Industry; Mr R.K. Kapur, President, Association of Indian Mini Blast Furnace; and Mr N. C. Mathur, Chairman, Steel Furnace Association of India, during a press conference on `Road Map for Indian Iron & Steel Industry' in the Capital on Monday. -- Ramesh Sharma

New Delhi March 19 Steel manufacturers on Monday demanded placement of quantitative restrictions on the export of iron ore to preserve mineral wealth.

They said that the imposition of Rs 300 per tonne export levy on iron ore is inadequate and demanded placing quantitative restrictions at the rate of 15 per cent every year with immediate effect on iron ore exports until it is brought down to zero per cent.

Participating in an Assocham conference, the Indian Steel Alliance, Steel Furnace Association, the Association of Indian Mini Blast Furnace, the All India Induction Furnace Association and the Sponge Iron Manufacturers Association felt that it is necessary to attract long-term investment in the steel sector, add value on iron ore and provide job opportunities to people and strengthen infrastructure.

They also felt that quantitative restrictions are necessary on iron ore exports for capacity expansion of the indigenous steel industry.

Speaking at the conference, the President of the Indian Steel Alliance, Mr Moosa Raza, said that the Government should fix the cap at 90 mt for the current year for exports and decrease it by 15 per cent every year.

Related Stories:
`Rising iron ore exports could hit steel sector'
Mining body urges rollback of export duty on iron ore
Steel industry welcomes export duty on iron ore
Iron ore exports: Panel submits report

More Stories on : Minerals | Steel | Exports & Imports

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