ArcelorMittal Nippon Steel India CEO says duty hike to hit about 90,000 tn of exports per month
ArcelorMittal Nippon Steel India Ltd ESRG.UL expects about 90,000 tonnes of steel exports every month to be hit by government’s duty increase, alongside a dampening effect on fresh investments, Dilip Oommen, chief executive officer, said on Monday.
“Export duty imposed by Indian government will have repercussion on company’s export market,” Oommen told Reuters, adding, the company exports 15% of its total production
Oomen is also president of the Indian Steel Association.
Source: Reuters (Reporting by Rupam Jain in Mumbai and Neha Arora in New Delhi, Editing by Louise Heavens)