India business some people think that because future India national demand for iron ore is an increasing trend, India and strengthen the protection of natural resources such as iron ore, iron ore exports to India on the future of restrictions is an inevitable trend.
India industry Federation, Vice President, Tata Steel Vice Chairman in the fiscal new B.Muthuraman reporter said, India current steel production of about 60 million tons, but the next few years are likely to rise to 2 million, 3 million tonnes, or 5 million tons, India itself is not capable of supporting such a huge steel output of iron ore production.
India is one of China's iron ore imports important source countries, accounting for the total amount of imported iron ore of 10%. But since last year, India has gradually increased the restrictions on exports of iron ore.
December 2009, India has iron ore export tariffs from block 5% up to 10%, and iron ore powder ore export tariffs from zero up to 5%. 29 April this year, India has once again announced adjustment of iron ore, cotton and other commodities of export tariffs, including iron ore block ore export tariffs from 10% to 15%, powder ore is not adjusted.
Muthuraman stressed that the iron ore belongs to natural resources, stocks very difficult to have a great growth, India's iron ore exports take a very cautious attitude is very correct, as China is also limited natural resources such as iron ore, coal exports. The natural resources are limited, so countries protect the natural resources of the attitude is very wise. "Muthuraman said.
India industry Federation Director ChandrajitBanerjee says that India now emphasizes increasing the added value of exports of raw materials, thereby increasing the benefits of raw materials for export. "On the one hand, we urgently need to address is how to increase the added value of iron ore products, on the other hand, India exported to China's iron ore do not suddenly stop, the steel industry from India iron ore demand there will be a gradual process of climbing. The new press Banerjee on wealth.
Banerjee is of the view that in the short term, India's steel industry demand for iron ore will not pose a threat to China's exports, but in the long term, the future India iron ore Association priority for their buyers.
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