India Is Not Considering Re-imposing Steel Export Duties

“Although input prices have slightly increased from their lowest levels, which were reached about four to five months ago, the situation has not reached a level where one could contemplate an increase in export duties, which was taken about three quarters ago,” Sinha said on the Economic Times’ ET Now program. The secretary noted that the ministry is keeping an eye on the cost of both steel and raw materials.

Sinha also stated that the government is not selling any of its holdings in NMDC. “Of course, we intend to strategically sell Nagarnar Steel, which has since been separated from NMDC. According to NMDC, that is all that is available. Naturally, we support the strategic sale of RINL and FSNL Ferro Scrap Nigam, the man said.

We had submitted an interest statement for the Visvesvaraya Iron and Steel Plant, but none was received. DIPAM has therefore indicated that steps should be made to close it, and the process is ongoing, the secretary said.

“Divestment attempts were made with regard to the Alloy Steel Plant, but they have since failed, prompting the Steel Authority of India to be urged to consider other options. We are also making progress toward divestment at the Salem Steel plant, but that procedure is still in progress and will take some time to complete,” Sinha said.