India’s iron ore imports are expected to touch a seven-year high in the range of 12-14 million mt by the close of the current fiscal year on March 31, 2026, according to industry estimates and sector analysts.
The surge in imports underlines a growing demand-supply gap in domestic availability of the key raw material, particularly in higher grades of iron ore required by domestic mills, the analysts said.
JSW Steel Limited, the country’s largest steel producer by capacity, is emerging as a key driver of import demand. Its mills in Maharashtra and Karnataka are increasingly sourcing higher-grade ore from overseas markets to maintain production efficiency, they said.
They said that, while India’s overall iron ore output is expected to rise to around 305 million mt in 2025-26, up from 289 million mt in the previous fiscal year, much of the domestic supply remains lower grade. This has limited its usability for advanced steelmaking processes, prompting reliance on imports.
Citing industry estimates, the analysts said that imports are largely concentrated from Brazil and Oman, accounting for nearly 70 percent of shipments.
The rising imports highlight the dual trend of importing high grade ore while exporting lower grades, and reflect the imbalances in the domestic iron ore mining industry.
