Mineral trade body calls for tariff removal on bauxite exports

ENA Sectors 2023-01-06 09:51:31 New Delhi, Jan 6 (KNN) To provide much needed jobs to the Indian economy, the Trade body Federation of Indian Mineral Industries (FIMI) has urged the government to do away with the export tax on bauxite ore. It has noted that this move would also boost bauxite mining in the country. FIMI has argued that India has the potential to become a major bauxite supplier which is being hindered by the tariff on the mineral. <a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a> The export duty of 15 per cent on bauxite is detrimental to the Indian non- metallurgical bauxite producers and exporters […] This Federation therefore request for complete withdrawal of export duty on exports of bauxite, said the proposal. FIMI assured that to meet its domestic needs India currently has sufficient domestic bauxite ore supplies. Alumina refineries in the country are either fed by captive bauxite mines or purchase bauxite ore from domestic sources. Indias bauxite reserves that are currently being tapped in the east and center of the country are generally plant grade. Countrys alumina refineries arent using the West Coast bauxite stores as they are of a high silica and low alumina content. Hence, that bauxite can be used by refineries in other countries that are equipped for such feedstock and can also be used in the production of cement. (KNN Bureau) 31839 https://knnindia.co.in/news/newsdetails/sectors/mineral-trade-body-calls-for-tariff-removal-on-bauxite-exports 2023-01-06 09:51:31 knnindia.co.in Mineral trade body calls for tariff removal on bauxite exports