India’s Iron Ambitions: Vedanta Chairman Envisions Second Spot in Global Production

India has the potential to surpass Brazil and China to become the world’s second-largest iron ore producer, according to Vedanta Group Chairman Anil Agarwal. Currently ranked fourth globally, India produces 270 million tonnes of iron ore annually, trailing behind Australia, Brazil, and China. However, Agarwal believes that with its vast reserves and strategic focus, India could achieve an annual production of 700 million tonnes, securing the second spot after Australia.  

 

Agarwal emphasized the critical role of iron and steel in modern life, from infrastructure to everyday gadgets, and highlighted India’s abundant iron ore reserves, estimated at 33 billion tonnes. He noted that increased production would not only boost economic growth but also generate significant employment opportunities and government revenue.  

 

The Vedanta Chairman also pointed out the transformative potential for states like Chhattisgarh, Jharkhand, and Odisha, which are rich in iron ore. These regions, currently below the national average in per capita income, could see rapid development and prosperity through enhanced mining activities.  

 

India’s iron ore production has shown steady growth, with a 4.4% increase in FY 2024-25, reaching 263 million metric tonnes. Major contributors include NMDC, SAIL, and Odisha Mining Corporation, with Odisha leading the charge by contributing 54% of the total output.  

 

Sources: ANI, Business Standard, The Tribune India