CII warns about rising iron ore exports to China
The Confederation of Indian Industry (CII) recently released data on the
iron ore and steel exports of
India to
China.
According to the data,
India's steel exports to
China decreased approximately 46% year on year to $500 million during the first 11 months of 2004. On the other hand, exports of
iron ore, slag and ash increased nearly 3.5-fold in terms of value, from $1.1 billion to $3.9 billion.
The steep rise in
iron ore exports to
China worries CII. The organization warns that
India should think twice before continuing to send such products overseas. CII reminds that
India's own need for
iron ore and steel will continue to grow as the country undertakes various ambitious infrastructure projects.
Similar to
China,
India may decide to limit steel and
iron ore exports in order to maintain an adequate supply for its domestic requirements in the forthcoming years.