INDIA TURNS IRON ORE IMPORTER
POLICY PARALYSIS LEADING TO CRISIS
2013-04-20 04:12
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Unbelievable, but true: India, until recently the world’s 3rd largest exporter of iron ore, has lately imported a lot of this commodity to support domestic steel production. India’s sudden entry into the global iron ore market as an importer has shocked the rest of the world. It is like ‘carrying coal to New Castle’ which is meant to express an archetypally pointless activity or an aberration.