India to Increase Bauxite Export Tax to Aid Aluminum Makers
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India will raise export duties on bauxite to help local aluminum producers, which are facing a shortage of the raw material because of mining curbs.
Export taxes on bauxite will be doubled to 20 percent, Finance Minister Arun Jaitley said in his budget speech to lawmakers in New Delhi today. The higher levy will boost local availability for smelters, including those of Sesa Sterlite Ltd., Hindalco Industries Ltd. and state-owned National Aluminium Co.