The Hindu Business Line : Curbs on iron ore exports likely

(FROM LEFT)The Minister for Steel, Mr Ram Vilas Paswan, Mr Naveen Jindal, Executive Vice-Chairman & MD, Jindal Steel & Power Ltd, and Mr V. S. Jain, Chairman, SAIL, at a conference in the Capital on Tuesday. — Kamal Narang

New Delhi , April 4

The Government is considering restriction on export of iron ore with the objective of promoting major domestic steel utilities in the National Mineral Policy that is to be announced, said the Union Steel Minister, Mr Ram Vilas Paswan, on Tuesday.

While speaking at a conference on "Leveraging IT for global competitive advantage of the Indian Steel Industry," organised jointly by the Confederation of Indian Industry (CII), Indian Steel Alliance and Hewlett Packard, he said that if the export of iron ore continues unchecked, it would jeopardise the future of the domestic steel utilities, which he would not allow to happen.

Mr Paswan said that the country has total reserves of 4.3 billion tonnes of iron ore, and added that some restrictions would have to be imposed on the extraction of Bailadila mines and those owned by National Mineral Development Corporation.

He, however, made it clear that present level of export allowed from the quota of 78 mt would not be lowered.

Leveraging IT

The Ministry of Steel was introducing IT in the sector since integrated use of IT tools was needed to enhance productivity of steel plants, he added.

The Minister also highlighted the fact that SAIL has chalked out a five-year programme to switch over to e-commerce in a significant way.

Mr M.V. Rajashekharan, Union Minister of State for Planning, said the Government could help companies adopt the right technology for improving productivity. He also said IT provided cost advantage to companies.

Mr Navin Jindal, Member of Parliament, in his address said there was a need to improve the production and consumption of steel in the country.

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