Business Daily from THE HINDU group of publications
Monday, Feb 11, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Monday, Feb 11, 2008 ePaper | Mobile/PDA Version |
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Industry & Economy
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Minerals States - Tamil Nadu Restrictions sought on iron ore exports Our Correspondent Madurai, Feb. 10 The Tamil Nadu Chamber of Commerce and Industry has appealed for restrictions on iron ore exports from the country. Expressing concern over the recent price hike by steel companies, the chamber’s President, Mr S. Rethinavelu, in a statement here said that during the last one year, the price of steel rod, an important material for the construction industry, has gone up by over 20 per cent, adding to the woes of the industry. Major players in steel rod manufacturing are Government-owned companies and the prices are hiked without any control. However, iron ore is exported without any restriction to Japan and China at a low cost and domestic steel corporations are allowed to hike the cost of steel products. China and Japan, while keeping their ore deposits in tact, are allowed to thrive on imports from India. He added that there was a need to reduce the basic excise duty on steel products. More Stories on : Minerals | Exports & Imports | Tamil Nadu
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