Foreign media reported that on December 27, an Indian official said that the Ministry of steel of India may issue a white paper in the next three to four months, which plans to reduce the tax burden of domestic steel enterprises and increase their competitiveness.
When the white paper is completed, it will be submitted to the Ministry of finance of India to propose adjustments to taxes, tariffs and other local tariffs on Indian steel production, the official added.
Last week, Anil Kumar Chowdhury, chairman of the steel authority of India, said India's steel industry has a high tax rate, with raw materials such as coal and iron ore taxed at 20%, far higher than other countries, and costs about $450 per ton of steel production.
