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India may consider banning cement exports to reduce prices

India may consider banning cement exports to reduce prices
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First Published: Wed, Mar 07 2007. 03 41 PM IST
Updated: Wed, Mar 07 2007. 03 41 PM IST
By Subaramaniam Sharma, Bloomberg
New Delhi: India may consider banning cement exports to reduce prices, trade minister Kamal Nath said.
“We will look at that if that helps bring down cement prices,” Nath told reporters in New Delhi today. The government will have to study this step “because cement is regionally priced.”
Indian cement makers increased the prices on 5 March after finance minister Palaniappan Chidambaram announced an increase in the excise rate on cement. The duty was increased to Rs600 from Rs400 a tonne for cement sold at Rs190 or more for a 50-kilogram bag.
For cement priced below Rs190 a bag the tax was cut to Rs350 a tonne.
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First Published: Wed, Mar 07 2007. 03 41 PM IST