India scraps 5 pct export duty on iron ore pellets

NEW DELHI (Reuters) - India has scrapped a 5 percent duty on exports of iron ore pellets to make overseas shipments competitive amid a sharp fall in the world price of the steelmaking raw material, a government order showed on Tuesday.

"This would improve capacity utilization of pellet plants and give necessary boost to (the) sector," Steel and Mines Minister Narendra Singh Tomar tweeted.

(Reporting by Krishna N. Das; Editing by Anand Basu)