Mr P Chidambaram union finance minister has announced an increase in the export duty on chrome ore from the current INR 2,000 per tonne to INR 3,000 per tonne. Mr Chidambaram said that "The export duty has been increased in order to conserve chrome ore and make it available for value added manufacture in India."

But as per media reports, Indian ferroalloy producers feel that it would not have much effect in reducing chrome ore exports fro India

As per a report in media, Mr RK Saraf chairman of the Indian Ferro Alloys Producers Association said that “A INR 1,000 a tonne increase in export duty means that the export price will be up by USD 25 a tonne. Given that the export price is currently about USD 410 per tonne, the Chinese buyers of the ore will gladly absorb the price increase, in view of the shortage in availability of ore and its growing steel production. I do not think the proposed increase in export duty will have any impact on export of chrome ore."