Steel Association writes to Sitharaman, seeks withdrawal of export duty

Industry should be allowed to fulfill the orders without export duties, say companies.

The Indian Steel Association (ISA) representing major companies has written to Finance Minister Nirmala Sitharaman, seeking withdrawal of export duty on iron and steel intermediates.

The association said it welcome the government ending import duty on key raw materials--coking coal, PCI coal and ferro-nickel--but the “sudden” imposition on a wide range of steel products would bring exports to a halt.

The association has also raised that letters of credit had been raised for about 2 million tonnes of orders and the industry should be allowed to fulfill the orders without export duties. It sought three months’ time for this.

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