Iron ore imports have increased sharply to 5.63 million tonnes in 2014-15 till November as against 0.37 million tonnes in previous financial year, the government said today.

"The import of iron ore has increased from 0.37 million tonnes (MT) in year 2013-14 to 5.63 MT in the year 2014-15 (April-November)," Minister of State for Steel and Mines Vishnu Deo Sai said in a reply to the Lok Sabha.

The minister further said there is no acute shortage of raw material like iron ore. However, there are regional shortages of iron ore due to Supreme Court's decisions regarding lease renewal in Goa and Odisha and cancellation of mining leases in Karnataka.

"Coking coal which is used in steel making is largely imported into India due to its non-availability," the minister said. Iron ore imports in 2012-13 were at 3.05 MT while in the previous 2011-12 year imports were 0.97 MT, the minister said.

He further said that as per the report of the Working Group on Steel for the 12th Five Year Plan for 2016-17, the iron ore requirement is 206.2 MT for crude steel production capacity of 125.9 MT.

At present 21 per cent of crude steel production is being done by public sector and 79 per cent of crude steel production is being done by private sector.

Source:economictimes.indiatimes.com