Posted on 09 Jun 2008
As several steel makers had been seeking a ban on iron ore
exports, the government will consider the issue of ban on iron ore exports; on
the back of concern over lagging steel production in the country against rising
consumption, as India had been a net importer of steel for the first time in
2007-08,
Furthermore, while consumption was estimated to grow at
three per cent and production at seven per cent, it had been seen that
consumption growth had exceeded demand; conversely, the government plans to
take steps to facilitate expeditious addition to steel capacity, which was
estimated to hit 124 million tons by 2011-12; in which by 2015-16, India is
expected to be as the number two steel producer in the world.
