ANI reported that the Indian foundry industry has hailed the move to levy of export duty on iron ore & steel as it will help in improving availability and usher in price stability. The Institute of Indian Foundrymen’s President Mr Devendra Jain said “The unprecedented surge in prices of raw material of steel has been a big challenge for the foundry industry in the recent months. The import duty reduction will lead to a lowering of prices and provide much-needed support to the industry. We are hopeful that the levy of export duty on iron ore and steel intermediates will also help in improving raw material availability, usher in price stability, and enhance the industry's competitiveness in the global market.”He also welcomed the steep reduction in excise duty on petrol and diesel, saying it will provide much-needed relief to people at large and also help in reducing logistics costs for industries.
ANI reported that the Indian foundry industry has hailed the move to levy of export duty on iron ore & steel as it will help in improving availability and usher in price stability. The Institute of Indian Foundrymen’s President Mr Devendra Jain said “The unprecedented surge in prices of raw material of steel has been a big challenge for the foundry industry in the recent months. The import duty reduction will lead to a lowering of prices and provide much-needed support to the industry. We are hopeful that the levy of export duty on iron ore and steel intermediates will also help in improving raw material availability, usher in price stability, and enhance the industry's competitiveness in the global market.”He also welcomed the steep reduction in excise duty on petrol and diesel, saying it will provide much-needed relief to people at large and also help in reducing logistics costs for industries.
