A leading advisor to India’s Tata Steel has called for exports of iron ore to be banned.
Addressing the Global Steel Conference in Goa, Amit Chatterjee, advisor to Managing Director of Tata Steel Ltd said “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.” He added “Restrict export of higher grade iron ore. Lower grade is a different issue.”
Mr. Chatterjee also suggested that “India will have a 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,” Mr. Chatterjee. “Every car maker in the world is in India and more are coming (leading to increase in steel demand),” he stated.
Mr. Chatterjee pointed out India’s advantages of low cost iron ore and lower labour costs and projected that India’s steel manufacturing capacity would touch 100 million tonnes by 2012; however he said that raw material supply, environment responsibility and a lack of qualified personnel are big challenges ahead for the industry.
“Youngsters prefer IT to steel industry as it pays well. Working in steel industry is not considered fashionable,” he said.
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