Cap iron ore exports to 90MT: Industry to govt

In a move to keep more of the raw material at home, the Indian steel industry today demanded that the government place a quantitative restriction on iron ore export at 90 million tonnes for the current year.

"Iron ore export needs to be limited because there is a shortage in the supply of iron ore to the domestic steel industry," Moosa Raza, president, Indian Steel Alliance, today said at a press conference organised by industry body Assocham.

The industry has also asked for a 15% reduction in the cap on iron ore export every year until the exports are brought down to zero per cent. India currently exports 90-100 million tonnes of iron ore, mostly to China.

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