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FIMI writes to Rajan seeking roll-back of export duty on ore

In a letter to Raghuram G Rajan, Chief Economic Advisor to the Ministry of Finance, FIMI said higher export duty coupled with exorbitant freight charges have led to a steep fall in exports of ore which has drastically come down from 117.37 million tonnes (MT) in 2009-10 to 61.74 MT in 2011-12.

Govt decision to hike iron ore export duty prudent: Assocham

The government's decision to hike duty on iron ore exports from 5 percent to 50 percent is a step in the right direction and promotes value addition within the country to meet growing demand for steel, industry body Assocham said on Saturday.