NEW DELHI: The exports of finished steel from India jumped over
25 per cent to 13.49 million tonne (MT) in 2021-22, Union Minister Faggan Singh Kulaste said recently. During the preceding 2020-21 fiscal, the exports stood at 10.78 MT, the Minister of State for Steel said in the Lok Sabha.
The imports fell to 4.67 MT in
2021-22 from 4.75 MT a year ago, a fall of 1.68 per cent, according to Kulaste.
“Government has taken various steps to increase the availability of iron ore and make them available at reasonable prices, which, inter-alia, including Mining and Mineral Policy reforms to enhance production / availability of iron ore,” he said.
In the Union Budget 2022-23,
the basic customs duty (BCD) on
steel scrap has been exempted up to March 31, 2023.
The Government also made modifications in tariffs on raw materials of steel and other steel products vide notification dated May 21, 2022, wherein import duty on anthracite/pulverised coal injection (PCI) coal, coke and semicoke and ferronickel has been reduced to zero.
