India’s exports grow 25 pc to 13.49 MT in FY22; imports fall 1.68 pc to 4.67 MT: Minister Kulaste

NEW DELHI: The exports of finished steel from India jumped over 25 per cent to 13.49 million tonne (MT) in 2021-22,

Union

Minister Faggan Singh

Kulaste

said Wednesday.

During the preceding 2020-21 fiscal, the exports stood at 10.78 MT, the Minister of State for Steel said in a reply to the Lok Sabha.

The imports fell to 4.67 MT in 2021-22 from 4.75 MT a year ago, a fall of 1.68 per cent, according to Kulaste.

“Government has taken various steps to increase the availability of iron ore and make them available at reasonable prices, which, inter-alia, including Mining and Mineral Policy reforms to enhance production/availability of iron ore,” he said.

In the Union Budget 2022-23, the basic customs duty (BCD) on steel scrap has been exempted up to March 31, 2023.

The government also made modifications in tariffs on raw materials of steel and other steel products vide notification dated May 21, 2022, wherein import duty on anthracite/pulverised coal injection (PCI) coal,

coke

and semicoke and ferronickel has been reduced to zero.

Export duty on iron ores/concentrates and iron ore pellets has been raised to 50 per cent and 45 per cent, respectively, and a 15 per cent export duty has been imposed on pig iron.

Read More

Leave a Reply

Your email address will not be published.

You May Also Like

As Washington ramps up efforts to bring India on board with sanctions against Russia, U.S. treasury official on visit to Mumbai and Delhi

U.S. Assistant Secretary to discuss Russian oil purchases by India, rupee-rouble trade…

Eid-ul-Fitr moon sighting highlights: Saudi Arabia, India may mark Eid same day

Eid-ul-Fitr 2022 moon sighting highlights: There is a wafer-thin chance that Muslims…

सड़क, रेल, 5G… अरुणाचल बॉर्डर से सटे तिब्‍बत में क्‍या-क्‍या गुल खिला रहा चीन, सेना ने सब बताया

Edited by दीपक वर्मा | भाषा | Updated: May 17, 2022, 1:08…

Russia-Ukraine Crisis: Indian crisis: People without Covid-19 negative reports and unvaccinated Indians can enter Delhi airport

The Delhi airport issued a revised advisory to Indian citizens on Saturday…