India Eyes Global Partnerships to Secure Steelmaking Raw Materials
India is set to initiate talks with Argentina, Indonesia, and Oman to strengthen supplies of key steelmaking raw materials, including coking coal and iron ore, while also exploring access to advanced technologies. The discussions are expected to take place at a major global steel summit next month, as the country looks to secure resources essential for its growing steel industry.
As the world’s second-largest crude steel producer, India relies heavily on imports for critical inputs. Indonesia plays a vital role with its vast nickel reserves used in stainless steel production, while Oman and Brazil remain key sources of iron ore. Additionally, India is aiming to secure lithium and other critical minerals from Argentina to support both steel manufacturing and the transition to clean energy.
With rising domestic demand driven by infrastructure growth and export expansion, India is working to diversify supply chains and reduce dependency on limited sources. However, challenges such as a global gas crisis and shifting trade dynamics, including Europe’s carbon tax, continue to put pressure on the sector, pushing the country to seek more stable and diversified partnerships.
Pic courtesy: google/ images are subject to copyright
