Piyush Goyal to meet mining industry associations

New Delhi, August 17 (KNN) With the view to take stock of issues plaguing the sector, Mines Minister Piyush Goyal has called a meeting of mining industry associations on 18 August.

The minister is likely to meet the industry associations including Federation of Indian Mineral Industries, Aluminium Association of India, Indian Electrical and Electronics Manufacturers’ Association and others. It is expected that changes required in the mining sector will be discussed during the stakeholder meeting.

Earlier, the concerned industries has raised the issue regarding waiving export tax on iron ore having iron content up to 62% with stockpile of around 162 million tonne (MT) lying in Jharkhand, Odisha and Karnataka.

The issue has been raised with the ministry of steel and will also be discussed with the minister in the meeting.

Goyal who also holds the additional portfolios coal and new and renewable energy ministry on 6 July, after taking charge of the ministry after a Cabinet reshuffle, had said that if mineral production in the country grows by 30-35% per year, it will contribute an additional one percentage point to the country’s gross domestic product in the next two-three years from the existing share of 2-2.5%.

The government, in the 2016-17 Union Budget, removed the export duty on iron ore lumps and fines with iron content below 58%, but 30% export duty on high-grade iron ore with iron content above 58% was left untouched. Industry is now pressing for removal of export duty on iron ore up to 62% iron content. (KNN Bureau)