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India has announced it will not reimpose steel export duties

Nagendra Nath Sinha, secretary of the Indian Ministry of Steel, said the export tax has not been re-imposed.

India has announced it will not reimpose steel export duties

"Although input prices have increased slightly above the lows amounted about four to five months ago, the situation has not reached a level where an export tax increase of about three quarters can be considered," Nagendra Nath Sinha said, noting that the ministry is focusing on both steel and raw material prices.

Meanwhile, Sinha also informed that the ministry has not divested anything from the NMDC stake. "Of course we are going for the strategic liquidation of Nagarnar Steel, which is currently separated from NMDC. That's the only thing on offer when it comes to the NMDC. Of course, we are in favor of the strategic disposal of FSNL Ferro Scrap Nigam, as well as RINL."

“Regarding the Visvesvaraya Iron and Steel Plant, we made an expression of interest, but there was no return. Therefore, DIPAM stated that action should be taken to close it and the process is ongoing,” he said.

"In the case of the Alloy Steel Plant, something has been done to divest but the efforts have not come to a conclusion and therefore the Steel Authority of India has been asked to look for different solutions. We are also moving towards divestment at the Salem Steel plant, but it is still ongoing and it will take some time to come to a conclusion," he said.

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