A government panel has on October 30 recommended an immediate rise of Rs 5 per litre of diesel or 9.5 per cent rise, along with other measures aimed at cutting the governmentÂ’s huge oil subsidy bill.
In the first half year of this fiscal ended September 30, 2013, NMDC, the country's largest iron ore mining company, has reported a 8 per cent rise in sales of iron ore. The company has said it sold 13.75 million tonne of iron ore between April-September 2013, up from 12.72 million tonne in the same period last year.
In September, Indian shipping industry saw a slight rise with an increase in shipment volumes, driven by an increase in iron ore import by China and economic recovery in the US and Europe. Shipment volumes, across dry bulk, tanker and container carriers, have suffered in the last two years due to excess capacity and a fall in international trade.