Question : As of 2022, which among the following countries is the largest importer of Indian iron ore?
Option 1: Russia
Option 2: China
Option 3: France
Option 4: United States of America
Correct Answer: China
Solution : The correct answer is China.
In the fiscal year 2022–23, India is anticipated to export approximately 20 million metric tonnes of iron ore, a decrease from the previous year's 26.3 million metric tonnes. China remains the primary destination for these exports. In May 2022, the Indian government implemented a 50% export tax on low-grade iron ore lumps and fines (with iron content below 58%) and a 45% export duty on pellets, aiming to address the growing domestic demand for these resources.
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