It is reported that the Indian government has reduced the rail freight charge for iron ore exports by INR 6/m (USD 475/m) as of Tuesday, March 9,5th.
HC Daga, vice-president of the Indian Federation of Mining Industry (FIMI), stated that the new freight rate will be at the level of INR 2.425/meter (USD 48,14/meter).
The reduction in freight charges will allow exporters to reduce the losses caused by the increase in iron ore export tax. The Indian government increased the iron ore export tax from 20% to 30% in January.
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