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The Indian Government is reportedly working on a proposal to impose a 30% export tax on low-grade iron ore, a move aimed at ensuring greater domestic availability of raw materials for the steel industry. Sources suggest that the measure is under consideration to support the rapid expansion of steelmaking capacity in line with India’s target of producing 300 million tonnes of steel by 2030.
Low-grade iron ore, particularly fines, is often exported in large volumes due to limited domestic demand. However, policymakers believe retaining this material within the country will help secondary steelmakers and sponge iron producers who rely on such grades for production.
The proposed tax is also expected to reduce India’s exposure to global price fluctuations and strengthen raw material security for domestic players. Industry experts point out that while the measure could affect mining companies and exporters, it would benefit steel producers by ensuring a steady and affordable supply of ore.
Analysts say the move reflects the government’s intent to prioritize domestic value addition and long-term sustainability of the steel industry.
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