Govt to look into banning iron ore exports

"The issue was being looked into by the government," Pandey told reporters on the sidelines of a function here.

Expressing concern over lagging steel production in the country against rising consumption, Pandey said that India had emerged as a net importer of steel for the first time in 2007-08, adding that the situation was going to worsen in the next two to three years.

 

Pandey said that all estimates regarding consumption and production had gone haywire, pointing out that while consumption was estimated to grow at three per cent and production at seven per cent.

He said that the government would take steps to facilitate expeditious addition to steel capacity, which was estimated to touch 124 million tonnes by 2011-12.

All roadblocks would have to be removed, he said.

"By 2015-16, India will emerge as the number two steel producer in the world," Pandey said.

He, however, expressed concern that capacity creation had been stuck in many places, adding that 30 to 33 per cent price rise in steel was also a point to ponder.