Export levy will slow down India's $5 trn economy journey: ISA President

Dilip Oomen says the levy comes at a time when the world views India as a stable policy country, a manufacturing and export hub that is closely integrating with global value chains

The export levy on steel will slow down the nation’s ambitious journey towards a $5 trillion economy, said Dilip Oommen, president, Indian Steel Association (ISA), on Tuesday.

In a statement, Oommen said that the cut in import duty on certain raw materials was welcome. “However, the export levy on steel would slow down the nation’s ambitious journey towards a $5 trillion economy at a time when the world is looking at us as a stable policy country, a manufacturing and export hub that is closely integrating with global value chains,” he said.

Oommen is also ArcelorMittal Nippon Steel India (AM/NS