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India bans primary steel exports and cement exports

After imposing ban on rice exports, now Indian government has banned exports of primary steel and cement.

At the final installment of the five-year trade policy announced, Commerce Minister Kamal Nath has said that primary steel exports and cement exports will be banned. Interest subvention will be extended by one year to 2009. The sunset clause on EOUs has been extended to 2010.

Export is being banned to take care of mismatch between supply and demand of cement.

The ban on exports is aimed to curb inflation, which has doubled since January 2008. Inflation reached a three-year high of 7.41% in the week ended March 29, 2008.


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