name an iron mine which is a 1007 export unit
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EXPORT POLICY FOR IRON ORE
Distribution of Iron & Steel Items to SSI Sector ( 684.61 KB )
National Steel Policy, 2005 ( 137.08 KB )
THE POLICY FRAMEWORK
Important Policy Measures
Export Policy for Iron Ore
Assistance being provided by Ministry of Steel to Private Sector
Important Policy Measures
In the new Industrial Policy announced in July, 1991 Iron and Steel industry, among others, was removed from the list of industries reserved for the public sector and also exempted from the provisions of compulsory licensing under the Industries (Development and Regulation) Act, 1951.
With effect from 24.5.92, Iron and Steel industry has been included in the list of `high priority' industries for automatic approval for foreign equity investment upto 51%. This limit has been recently increased to 100%.
Price and distribution of steel were deregulated from January 1992. At the same time, it was ensured that priority continued to be accorded for meeting the requirements of small scale industries, exporters of engineering goods and North Eastern Region of the country, besides strategic sectors such as Defence and Railways.
The trade policy has been liberalised and import and export of iron and steel is freely allowed. There are no quantitative restrictions on import of iron and steel items, covered under Chapter No. 72 of the ITC(HS) Code. The only mechanism regulating the imports is the tariff mechanism. Tariffs on various items of iron and steel have drastically come down since 1991-92 levels and the government is committed to bring them down to the international levels. In Chapter 72 there are two items viz. 72042110 and 72042910, which fall in the restricted list of imports.
Iron & Steel are freely importable as per the Extant Policy.
Iron & Steel are freely exportable.
Advance Licensing Scheme allows duty free import of raw materials for exports.
The floor price for seconds and defectives continues till date.
Imports of seconds and defectives of steel are allowed only through three designated ports of Mumbai, Calcutta and Chennai.
Mandatory pre inspection certificate by a reputed international agency for every import consignment of seconds and defectives
In the union Budget 2007-08 the import duty on seconds and defective has been further reduced from 20% to 10%