Wednesday, April 06,
Lifting of iron ore export ban from Karnataka is not expected to boost the exports much as exporters are already battling with hike in custom duty and railway freight charges.*
“The duty hike in the Budget and subsequently, the increase in railway freight have affected exports. Indian firms are not in a position to compete with their global players,” said, FIMI’s Secretary General R K Sharma.
The country’s top iron ore producer NMDC too felt that the move is not going to have much effect on its prices. “It is not going to impact prices much,” said a company official.
The move also weakens plans of Orissa, and Chhattisgarh, to impose export bans.
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