Posted on 13 Mar 2023
Amid surging steel prices, India is not considering re-imposing steel export duties, according to Indian steel secretary Nagendra Nath Sinha.
“Although input prices have risen somewhat over their lowest levels that were reached about four to five months ago, the situation has not reached such a level where one could contemplate an export duty hike which was taken about three quarters ago,” Sinha told the Economic Times’s ET Now programme. The ministry is keeping an eye on both steel and raw materials prices, the secretary added.
Meanwhile, Sinha also informed that the ministry is not divesting anything from its NMDC stake, Kallanish notes. “We are of course going for the strategic divestment of Nagarnar Steel which has been de-merged from NMDC now. That is the only thing on offer as far as NMDC is concerned. We are of course for the strategic divestment of RINL as well as FSNL Ferro Scrap Nigam,” he said.
“As far as the Visvesvaraya Iron and Steel Plant was concerned, we had taken out an expression of interest and no interest came. So, DIPAM has indicated that the effort should be taken for its closure and the process is on,” the secretary stated.
“As far as the Alloy Steel Plant is concerned, divestment efforts were made and now those did not come to a conclusion and so the Steel Authority of India has been asked to look for different options. We are also moving forward towards divestment in the Salem Steel plant but that is still underway and will take some time before we come to a conclusion of the process,” Sinha concluded.
Source:Kallanish
