The government of India is yet to take any decision on the issue of review of export duty on chrome ore and chrome concentrate. However, the mines ministry has assured the domestic Ferro chrome industry that chrome ore will be allowed to export only after catering the needs of the domestic industry.
The ministry of mines has convened a meeting of all the stake holders including the chrome miners and user industry (Ferro-Chrome makers) under the chairmanship of mines secretary Balvinder Kumar yesterday in New Delhi. In the meeting the ferro chrome industry strongly opposed the government decision to remove export duty on chrome ore and demanded re-imposition of the duty. Expressing its concerns the industry representatives have submitted that export of the precious commodity will impact its domestic availability which will increase the prices.
On the other hand, the miners including Tata Steel argued that there is enough chrome ore in the country to cater the domestic industry. So export of the commodity will not create scarcity and price rise.
The ministry will submit its recommendations to the union cabinet very soon and the cabinet will take the final decision. However according to sources, it is unlikely that the government will re-impose export duty on chrome ore.
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