Business Line reported that the Directorate General of Foreign Trade has written to the Ministry of Steel seeking their opinion on appointment of India’s largest state owned iron ore miner NMDC as a canalising agency for export of high grade iron ore, manganese ore, chrome ore and other minerals. A senior official of the DGFT in a 3 January 2022 communication to a top official of the Ministry of Steel mentioned that the Directorate is awaiting a final comment from the ministry for appointment of NMDC as an alternate canalising agency. DGFT had on 7 December 2022 had sent a similar mail to the Ministry of Steel seeking its comments on appointment of the iron-ore miner as a canalization agency. The name of NMDC came up after four other CPSEs were de-notified in September as nominated agencies for EXIM businesses. Ministry of Mines had in 29 September 2022 denotified four central public sector enterprises MMTC, STCL, PEC and STC as canalized or nominated agencies for all businesses in the EXIM policy. Canalization of import and export refers to importing and exporting of commodities through specified government agencies which previously included the State Trading Corporation of India, MMTC and others. Ministry of Mines had in 29 September 2022 denotified four central public sector enterprises MMTC, STCL, PEC and STC as canalized or nominated agencies for all businesses in the EXIM policy.
Business Line reported that the Directorate General of Foreign Trade has written to the Ministry of Steel seeking their opinion on appointment of India’s largest state owned iron ore miner NMDC as a canalising agency for export of high grade iron ore, manganese ore, chrome ore and other minerals. A senior official of the DGFT in a 3 January 2022 communication to a top official of the Ministry of Steel mentioned that the Directorate is awaiting a final comment from the ministry for appointment of NMDC as an alternate canalising agency. DGFT had on 7 December 2022 had sent a similar mail to the Ministry of Steel seeking its comments on appointment of the iron-ore miner as a canalization agency. The name of NMDC came up after four other CPSEs were de-notified in September as nominated agencies for EXIM businesses. Ministry of Mines had in 29 September 2022 denotified four central public sector enterprises MMTC, STCL, PEC and STC as canalized or nominated agencies for all businesses in the EXIM policy. Canalization of import and export refers to importing and exporting of commodities through specified government agencies which previously included the State Trading Corporation of India, MMTC and others. Ministry of Mines had in 29 September 2022 denotified four central public sector enterprises MMTC, STCL, PEC and STC as canalized or nominated agencies for all businesses in the EXIM policy.
