STEPS TO BOOST IRON AND STEEL EXPORTS

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RAJYA SABHA

Import and export of iron and steel items are freely allowed as per the existing policy. The export of HR coils to USA, EU and Canada has reduced considerably as a result of high antidumping and countervailing duty imposed by these countries.

To boost exports of iron and steel, Government has set up a Steel Exporters Forum under the Chairmanship of the Development Commissioner for Iron and Steel with major steel producers/ associations as its members to remove bottlenecks in exports. Some of the other measures taken by the Government to facilitate exports include full convertibility of export earnings at market rate of exchange, rationalization of DEPB rates and facility available to exporters to import their requirements of raw materials duty free, under the advance licensing scheme.

This information was given by the Minister for Steel Shri Braja Kishore Tripathy in a written reply in the Rajya Sabha today.