India's iron ore exports more than 60% to 15 million tonnes (MT) in April-November 2012 due to mining ban in some key producing states like Goa and Karnataka, curbs on shipments and higher duty and freight charges, according to miners' body FIMI.
Exports in April-November 2011 period stood at 40 MT.
During the first eight months of the current fiscal, exports have come down to 15 MT, registering a fall of more than 62 per cent as compared to the year-ago period, as per the data compiled by the Federation of Indian Mineral Industries (FIMI).
In November last year, the fall was a massive 93 per cent at 0.3 MT as compared to 4.6 MT in the same month in 2011.
In October, 2012 also exports had witnessed a steep fall of 95 per cent to 0.2 MT as against 4.5 MT in October, 2011.
“Exports have dried up, imports are increasing. If there is one industry in India where the government has ensured the destruction of trade, it is iron ore,” FIMI Secretary General R K Sharma told PTI.
Ban on mining operations in some parts of the country, curbs on shipments and export levy as high as 30 per cent besides higher freight charges have spelt doom for the industry, Sharma said.
Sharma alleged government bowing down under pressure from the Steel Ministry had raised the export duty while raising the freight duty roughly four times for exports as compared to domestic transportation of the ore.
India has been replaced by South Africa over 3rd largest exporter of iron ore to China.
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