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Industry & Economy
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Exports & Imports
Withdraw steel export duty: FICCI
New Delhi, May 22
Export duty on steel could affect the future
investment plans of the steel companies, the
Federation of Indian Chamber of Commerce and
Industry (FICCI), has said in a representation to the
Finance Minister, Mr P. Chidambaram. The federation
has sought withdrawal of the recently imposed export tax
on iron and steel.
Pointing out that already there are high
levels of value additions within the country, the chamber
has cited examples of black pipes for which the value
addition is $100 a tonne and galvanised pipes with value
addition of $250 a tonne. In such a situation, imposition
of a stringent measure on exports would not be in the
interest of the Indian steel industry, the federation said.
- Our Bureau
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Withdraw steel export duty: FICCI
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