India was one of the significant bauxite ore suppliers in the world before, but the situation significantly changed after the Indian government imposed a 15% export tax on this product.
This week, the trade body Federation of Indian Mineral Industries (FIMI) suggested the Indian government cancel the export tax on bauxite ore. They thought that the cancellation will promote the exploitation of domestic bauxite ore.
Also, this will provide much-needed jobs to the Indian economy, more miners will be back to work, and scores of people would be needed to ship the bauxite ore abroad. In addition, India's tax revenue and the trade deficit will also benefit from the ending of the export tariff.
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