September 13, 2018 / 8:24 AM / 3 months ago

Steel minister wants import duty on coking coal scrapped

Chaudhary Birender Singh, Union Minister of Steel, Government of India, speaks during an interview with Reuters in New Delhi, March 13, 2018. REUTERS/Saumya Khandelwal

NEW DELHI (Reuters) - India’s steel minister said on Thursday he wanted the finance ministry to scrap the 2.5 percent duty on imports of coking coal, a key steelmaking raw material, to limit input costs.

“We are pursuing a cut,” Chaudhary Birender Singh told reporters. “We want to make it zero. It cannot be 2.5 percent to 2 percent.”

India’s coking coal imports rose 13 percent in the 2017/18 fiscal year that ended in March.

Reporting by Neha Dasgupta; Editing by Malini Menon

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