Economy | India’s iron ore exports fall as tax cuts demand

Economy | India’s iron ore exports fall as tax cuts demand

Mumbai: Iron ore exports from India, the world’s third largest shipper of the steel-making material, fell for the first time in six months after the government imposed an export tax, cutting overseas demand.

Shipments in December fell 10.7% to 12.37 million tonnes (mt) from 13.85 mt a year earlier, said the Federation of Indian Mineral Industries. India exported 10.73 mt in November.

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