Steel Minister Virbhadra Singh today said that he subscribes to the view that there should be a ban on exports of iron ore.
"There is a demand that the country should not allow export of iron ore and it should be reserved for the domestic industry," he said at a stainless steel industry conference and exhibition 'Indinox 2010'.
He added that, "I subscribe to this view because we should export finished and value addition products instead of raw materials, as China is doing."
Singh said that the Centre government has imposed five per cent export duty on iron ore.
"The ministry of steel is looking into this issue and will discuss it with other ministries concerned like finance and commerce and industry," he added.
Singh said that he wants railway coaches to be made of stainless steel, which will offer multiple benefits like durability.
Source: PTI
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