New Delhi, May 2 -- India has decided against imposing tariffs on exports of low-grade iron ore for now, despite a significant rise in overseas sales to China, a source with direct knowledge of the matter revealed.
The decision comes after requests from small steel producers to curb rising exports were turned down, reported Reuters.
China remains the dominant destination for India's iron ore exports, accounting for more than 90 per cent of the total shipments. India is the world's fourth-largest producer of the steel-making ingredient.
Earlier this year, small and secondary steel producers in India had petitioned the government to consider an export tax on iron ore due to concerns over rising exports.
However, after examining the is...