The Ministry of Commerce and Industry has sought withdrawal of 5 per cent duty on export of iron ore pellets, citing that the levy will discourage shipments of value-added products. The Pellet Manufacturers´ Association of India (PMAI) had expressed apprehension over Rs 35,000 crore of investments becoming non-performing assets due to the export duty because domestic demand is too low and most producers are operating at less than 50 per cent capacity.
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