India should not encourage iron ore export: minister

March 5th, 2008 - 4:20 pm ICT by admin  

New Delhi, March 5 (IANS) India must discourage iron ore export if it is to develop its steel industry, Minister of Steel Ram Vilas Paswan said here Wednesday. “Steel producers and not iron ore exporters should be given priority in allocation of mining leases,” he told a conference organised by industry body Indian Chamber of Commerce.Paswan said steel consumption in the country was growing at the rate of 12 percent a year and the demand trend showed that this figure will rise to 13 percent this year even as production was still increasing at only 5.5 percent.

“The government should a take long-term view on iron ore requirement of the steel industry and only excess production, if any at all, should be allowed for export,” the minister said.

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