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Vedanta Group Chairman Anil Agarwal called for massive investments in India's steel sector.
Anil Agarwal warns India may need to import 75% of its iron ore to meet steel targets.
KEY POINTS
- Agarwal proposes India must create 3-4 companies each producing 200-300 million tonnes of iron ore.
- He estimates $20-25 billion or more is needed in infrastructure investment for this scale.
- India's iron ore imports are projected to more than double to 12-14 million metric tons in 2025-26.
- Brazil and Oman supplied about 70% of India's iron ore imports in the last fiscal year.
COMPANIES
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