India may acquire Australian coking coal stocks

Australia has invited Indian companies to capitalize on its huge reserves of coking coal. Ian Mcdonald, NSW Minister of Natural Resources, Primary Industries and Mineral Resources of Australia said that Australia's resources can help India to develop its steel industry. From 20 million tons of coking coal imported by India every year, the major share comes from Australia. Since India depends on Australian raw material supplies and Australia looks at India for its technological advancement in information technology filed, the partnership proposed by Australia can strengthen the strategic relationship between those two countries.