The India Govt reversed its prior ruling from May, When it had raised the tax to a harsh 50% in order to control inflation.

The government also eliminated the 15% export tax that was impose in May on several steel intermediates in the announcement. Which comes into effect on Nov 19.

The government reduced the 50 percent export tax for iron ore & concentrates else than roast iron pyrites to 30 percent

The Central Government hereby makes the following further adjustments  The announcement stated The Central Government is satisfied that it is require in the public interest to do so     

Having a high export tax over intermediates steel products has a negative impact on exports as well.

Seshagiri Rao, the managing director of JSW Steel, told in an interview on October 25, 2022.