News: The Centre's decision to levy a 15% export tax on steel products and iron ore to rein in domestic inflation may force a review of capital expenditure (capex) plans at local steelmakers that risk being outdone by Chinese and Russian mills globally. India's steel exports in 2019-20 totalled 11.2 million tonnes; in 2021-22, shipments rose to 18.4 mt. Now iron ore faces a 50% duty and pellets 45%.
Views: It will reduce business opportunities for capital goods sector as Steel segment is one of the key drivers of private capex which has planned capex of Rs. 100000 crore in the medium to long term.
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