BANGALORE: The Bangalore Chamber of Commerce and Industry (BCCI) has welcomed the Union Finance Ministry’s decision to increase the export duty on iron ore from the prevailing 20 per cent to 30 per cent.
Terming it as a step in the positive direction for Karnataka’s ailing steel industry, the chamber said that it was a significant step which will not only safeguard the interests of the steel industry but also curb illegal mining and conserve iron ore reserves for domestic consumption within the state.