Anil Agarwal, Chairman of Vedanta Limited, has underscored the urgent need for large-scale investments in iron ore production to support India’s ambitions for steel self-sufficiency. In a recent LinkedIn post, he highlighted the scale of transformation required in the mining sector to meet the country’s long-term industrial and infrastructure goals.
Mr Agarwal emphasized that India’s target of producing 300 million tonnes of steel will require nearly 800 million tonnes of iron ore. At current production levels, he cautioned, the country may need to rely heavily on imports unless domestic mining capacity is significantly expanded. He called for the development of globally competitive, large-scale mining operations supported by substantial infrastructure investments.
Pointing to global benchmarks, Mr Agarwal noted that a small group of major companies — including Vale SA, BHP, Rio Tinto, and Fortescue — collectively produce the majority of the world’s iron ore. He suggested that India should similarly enable the emergence of a few large players capable of producing 200–300 million tonnes each to compete at a global level.
According to Mr Agarwal, achieving this scale will require investments estimated between $20 billion and $25 billion or more, particularly in mining infrastructure and logistics. He stressed that simplifying regulatory processes and adopting a production-focused policy framework would be critical to unlocking India’s vast geological potential.
Highlighting the country’s natural advantages, Mr Agarwal stated that India’s iron ore quality and reserves are comparable to, and in some cases better than, leading mining regions worldwide. He expressed confidence that with the right approach, India can accelerate progress toward self-reliance in critical resources.
Mr Agarwal also referenced global trends toward streamlined approvals in the natural resources sector, noting recent policy shifts in the United States aimed at boosting oil and gas production. He emphasized that a similar focus on efficiency and scale in India’s mining sector could drive economic growth, create jobs, and improve livelihoods. Reaffirming alignment with the government’s vision of self-reliance, he called for bold, coordinated action to transform India’s mining landscape and secure the raw materials needed to power its industrial future.
