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Devastating impact on Goa exporters

Ramnath Subbu

MUMBAI: The steel makers have been enthused by the Union Budget 2007-08 announcement of an imposition of Rs. 300 a tonne on export of iron ore "in order to conserve our natural resources,'' but the iron ore exporters are crying foul over the lecy.

"The imposition of Rs. 300 per tonne export duty will have a devastating impact on the iron ore exporters. Why is iron ore export being singled out,'' P. K. Mukherjee, Managing Director, Sesa Goa, a leading iron ore exporter, told The Hindu. Sesa Goa exports around nine million tonnes of ore annually. "All Goan iron ore amounting to 25-28 million tonnes has been exported for the last 50 years as the Indian steel makers do not have the capacity to absorb the supply of ore.''

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