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National Perspective on iron ore export needed: Jairam Ramesh

Written by: Staff
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New Delhi, Sep 14 (UNI) Asserting that by the end of Eleventh Plan period (2012) India must take a strategic view to be a major exporter of steel and not of iron ore, Minister of State for Commerce Jairam Ramesh called for an urgent national perspective on the issue.

As India strives to reach its goal of producing 100 million tonnes of steel locally, the availability of high-grade ore to the local steel industry has to increase. Exports would then not be a feasible option, he said.

Even as the iron ore exports form a crucial element of our bilateral trade with China, Japan and South Korea and earns over 4 billion dollars, it is necessary to conserve high-grade iron ore which, is at present, being exported in substantial quantities, Mr Ramesh added. He was addressing the valedictory function of diamond jubilee celebrations of the Indian Institute of Metals.

The minister urged various stakeholders to come together and agree to a larger national perspective in this regard so that value-addition takes place and employment is also generated in the country.

Pointing out that the Indian mineral sector was undergoing a transformation, he said foreign companies are coming into India and Indian companies were venturing abroad. India is also actively seeking to develop sources of long-term supply of gold and diamonds to different parts of the world.

UNI CS MS HT1255

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