MMTC eyes 10% gain in export earnings due to consistent rupee slump

MMTC is yet to feel the heat of the weakening rupee on gold imports

State-controlled trading entity MMTC Ltd is eyeing 10 per cent growth in its export earnings in this financial year, led by consistent rupee fall.  

MMTC expects the realisations to shore up from exports of key bulk minerals like iron ore and chromite ore, intermediate products like pig iron and some finished steel products.

"Due to the rupee fall, iron ore exports are becoming viable. We also hope to garner sizeable gains from exports of steel and pig iron. If other factors remain constant, we expect a 10 per cent jump in export earnings," said a senior MMTC executive.

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