Increase in royalties render Indian mineral prices among least competitive globally
Published: Friday, 03 October 2014
India is a significant producer of raw materials including barite (barytes), chromite and limestone, but higher resource taxes have pushed the price of these minerals well above global averages for both export and domestic markets.
Indian governments decision to increase royalty rates
for all domestically produced major minerals is set to make
India one of the most expensive raw material suppliers in the
world, industry observers have warned.
The government announced that it had approved the revision
on 20 August, stating that...