The Union mines ministry has convened a meeting today afternoon at New Delhi under the Chairmanship of union mines Secretary Balvinder Kumar on the issue of export duty on chrome ore. Last February the union government has abolished export duty on chrome ore and concentrates from 30% to zero.
But the domestic ferro alloys industry has been strongly opposing the move. They feel zero export duty would flood the country with cheaper ferro chrome imports from China and Malaysia, killing value addition.
India’s export of chrome ore has reduced from 33.28 % of annual output in 2007 to 4.89 per cent in 2014. However, initial indications show this trend is likely to be reversed in the current financial year. Several merchant chrome producers like Tata Steel, B.C.Mohanty and Mishirlal & Sons’ have already booked several export shipments to China and other countries which will enable producers especially from China and Malaysia to dump cheaper ferro-chrome into the country
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