India's iron ore exports not sustainable, says Tata Steel official
13 Feb 2010
India, with rising demand for steel and several steel projects in the pipeline, cannot afford to continue exports of iron ore on the present scale, an industry official said today.
Rather, the country should preserve its iron ore reserves, which are required in huge quantity to meet the projected steel production in the country, Amit Chatterjee, advisor to managing director of Tata Steel Ltd, said at an industry conference.
"Increasing exports of iron ore is a disturbing trend. Exports should be banned. We don't need to export something which God has given to us," he said at the `Global Steel Conference' in Panaji.
He wanted the government to restrict export of higher grade iron ore if the domestic industry is to progress.
"There will also be increased usage of steel in construction and boom in automobile industry will add to the demand," Chatterjee said. He also projected India's steel manufacturing capacity to touch 100 million tonnes by 2012.
He, however, said the domestic industry had its own contradictions.
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