According to local media reports, to ensure long-term sufficient supply of raw material for the domestic steel industry, the steel ministry is working on a proposal to increase the export duty on iron ore from the previous 20 percent to 30 percent.
According to the report, this proposal has been accepted by the Minister of Steel Beni Prasad Verma, and the draft of the proposal is being worked out and would be discussed with the commerce and finance ministries. The report also unveiled that the raw material reserves of India is getting worse