Thursday 13 June 2024

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Economy | Mining

Control iron ore exports 'for' India: Chatterjee


India’s steel expert has said that the country needs to control the export of its iron ore reserves which is inevitable to meet the requirement for the projected steel production in the country.

"Increasing exports of iron ore is a disturbing trend. Exports should be banned. We don't need to export something which God has given to us," Dr Amit Chatterjee, advisor to managing director of Tata Steel Limited, said.

Addressing a large gathering of stakeholders in world steel industry at the Global Steel Conference which is currently underway in Goa, Chatterjee adviced restrains on flushing out of iron ore reserves of the country.

"Restrict export of higher grade iron ore. Lower grade is a different issue," he said delievering a talk on ``Challenges and opportunities before Indian steel industry in the changed global economic scenario.''

The conference, fifth in the series, is organized by Gujarat NRE and The Economic Times in Goa.

Foreseeing a great future for the Indian steel industry, Dr Chatterjee said that `India will have greater usage of steel in general.''

"There will also be increased usage of steel in construction and boom in automobile industry will add to the demand," Chatterjee, who has been awarded fellowship of Imperial college London for his outstanding capabilities in the field, said.

"Every car maker in the world is in India and more are coming," he commented.

He said that India has the advantage of low cost iron ore and low unit labour cost and also there is vast growth potential for domestic market.

Dr Chatterjee, however, rued that the industry players has no aspirations. "Indian steel industry is facing a challenge to do something," he commented.

Projecting that India's steel manufacturing capacity will touch 100 MT by 2012, he said that the raw material supply, environment responsibility and lack of qualified personnel are the challenges before the industry.

"Youngsters prefer IT to steel industry as it pays well. Working in steel industry is not considered fashionable," he pointed out.

"The option is that the steel industry should train the manpower," Chatterjee advised. is now on Telegram & also Youtube. Kindly subscribe for free & remain updated.

Total Comments :1

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When we export something, a few people make huge money! When we import something again a few people make huge money! In this process, it matters least even if there is environmental degradation, land devastation, water scarcity, dust pollution, inward migration of labour, increase in accidents, increase in crime rate and various other socio economic problems! It is a shame that we continue exports, depriving the future generations of the scarce natural resources! It is a shame that the corrupt and powerful are all out to make money even if the State and its people suffer!

Vishwas Prabhudesai , Loliem




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