FIMI requests for bauxite export duty to be removed
COAL & MINING

FIMI requests for bauxite export duty to be removed

The miners' body FIMI has requested that the export duty on bauxite be removed, claiming that doing so will result in better utilisation of low-grade mineral resources by hastening the reopening of closed bauxite mines, creating jobs, and earning foreign exchange. Because bauxite is the primary ore of aluminium, it is a critical raw material for aluminium producers.

According to FIMI, the 15 per cent export duty on bauxite is harmful to Indian non-metallurgical bauxite producers and exporters.

In its pre-Budget proposals to the finance ministry, the federation thus requested the complete removal of export duties on bauxite exports. It asserted that India is not only self-sufficient in meeting its needs, but also has enormous potential to become a major international player.

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The miners' body FIMI has requested that the export duty on bauxite be removed, claiming that doing so will result in better utilisation of low-grade mineral resources by hastening the reopening of closed bauxite mines, creating jobs, and earning foreign exchange. Because bauxite is the primary ore of aluminium, it is a critical raw material for aluminium producers. According to FIMI, the 15 per cent export duty on bauxite is harmful to Indian non-metallurgical bauxite producers and exporters. In its pre-Budget proposals to the finance ministry, the federation thus requested the complete removal of export duties on bauxite exports. It asserted that India is not only self-sufficient in meeting its needs, but also has enormous potential to become a major international player. Also read: Lucknow inks MoU for bio-CNG plant in PPP mode Fiscal viability no longer sole criterion for rail projects

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