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ethicsSitemapContact UsHindustan TimesLive HindustanHT US NewsNifty 50Auto NewsMint MoneyREITS NewsJSW Steel aims to
eliminate iron ore imports as domestic supply improves Dipali Banka4 min read21 Aug 2026, 10:52 AM ISTPuneet Jagatramka,
executive vice president, central procurement cell-OPEX & bulk raw material, JSW Steel(BigMint)SummaryJSW Steel,
India’s largest iron ore importer, plans to phase out imports as new domestic mines and logistics infrastructure come
online, shielding its costs from global price shocks.Gift this articleCheck your portfolioThis is a Mint Premium article
gifted to you.Subscribe to enjoy similar stories.Subscribe nowJSW Steel, India’s largest importer of iron ore, plans
to gradually eliminate imports of the key steelmaking raw material as domestic supplies improve and new mines become
operational, according to a top company executive.The shift could reduce India’s dependence on overseas supplies and
insulate the steelmaker from global price shocks, potentially limiting raw-material cost inflation as the country ramps
up infrastructure spending. India has some of the world’s largest iron ore deposits, and the government is pushing to
raise domestic production of the reddish raw material.“Objectively, we want to be done away with import,” said
Puneet Jagatramka, executive vice president, central procurement cell-OPEX & bulk raw material, JSW Steel. He was
speaking at BigMint's India Ferrous Week in Kolkata.“It’s a natural thing for us because India is so rich on the
iron ore deposit,” he said.Also Read | POSCO, JSW Steel plan $8-9 bn Odisha plant in high-stakes joint ventureImport
dependenceJSW Steel currently meets about two-fifths of its iron ore requirement through captive mines, with the
remainder sourced from the market. While the company buys most of its ore from state-run NMDC Ltd, it also remains a
large importer.India imported 12.2 million tonnes of iron ore in 2025, the highest level in seven years and nearly
double the previous year, according to commodities market intelligence firm BigMint. JSW Steel accounted for nearly 80%
of those imports.The company’s dependence on imports stems from two factors: a lack of mines under its control and, at
times, the relatively lower cost of importing ore compared with buying it locally.Logistics are particularly important
when sourcing a bulky, relatively inexpensive commodity such as iron ore. Overseas ore transported by sea can be
significantly cheaper than domestic ore moved by road, especially when JSW Steel’s plants are located close to
ports.“Sometimes it makes sense and the port becomes competitive depending upon the market at that point in time. That
is how the imports are being booked,” Jagatramka said.JSW Steel plans to remain an active participant in upcoming iron
ore mine auctions to secure additional captive supplies. It is also looking to invest in logistics infrastructure to
make domestically sourced ore more competitive, Jagatramka said.Also Read | India’s steel gap is forcing Jindal SAW to
keep importingThe company has about 40 million tonnes of pipeline capacity under development. Of this, 30 million tonnes
is expected to become operational within a year, with the remaining 10 million tonnes expected within two
years.Jagatramka said JSW Steel would also be willing to build another pipeline from NMDC’s mines to the port to
procure more domestic ore. The company is working to reduce logistical bottlenecks and increase the share of domestic
material in its raw-material mix.Capacity surgeThe push to secure domestic iron ore comes as JSW Steel sharply expands
its steelmaking capacity in India.The company currently operates about 35 million tonnes of steel capacity and expects
this to rise to 55 million tonnes by 2030 and 79 million tonnes by 2032.Securing domestic iron ore will therefore become
increasingly important as the company’s steelmaking capacity expands. Jagatramka said the company expects domestic
mining to pick up as more blocks are developed and production rises.“Time to come, it all will be available. So,
accordingly, import will also temper down. And more and more domestic ore will be used,” he said.If JSW Steel sets up
another pipeline to procure iron ore from NMDC, it could ease the transportation of raw material from eastern India to
the company’s plants in the west. The pipeline could also help lower iron ore costs, as domestic ore is generally
cheaper than imports. However, JSW Steel may continue importing some higher-grade ore to blend with India’s
predominantly lower-grade iron ore, particularly where higher-quality international supplies are available, said Dhruv
Goel, CEO of Big Mint, a commodities market intelligence firmAlso Read | India remains net importer of finished steel in
Q1FY27The Mumbai-headquartered steelmaker's CEO Jayant Acharya said in an earlier interview with Mint that the company
aims to meet 50% of its iron ore requirement through captive mines and 50% from the market.The remarks also come at a
time when the government is pushing to boost iron ore availability in the country, including pushing state run Coal
India to bid for iron ore mines and set up a pellet plant, Mint reported earlier.Gift this articleCheck your
portfolioAbout the AuthorDipali BankaDipali Banka is a Mumbai-based journalist who treats corporate reporting less like
a beat and more like a puzzle to be solved. This invariably means she has to read through annual reports and speak with
leaders and analysts. She tracks policies, deals, and the pulse of industries spanning metals, mining, paints, and
cement, alongside aviation. She started out as an intern at The Statesman and then completed her postgraduate diploma in
journalism from Asian College of Journalism, Chennai, in 2025. Relentlessly curious at heart, Dipali is driven by the
simple urge to understand how things work and who they impact. Armed with an enduring fascination for steel and
aeroplanes, she moves through the churn of daily news with focus, turning complexity into clarity without losing the
story. She is particularly committed to shaping numbers into objective narratives, having little appetite for vagueness
that gets in her way.<br><br>Outside the newsroom, Dipali is an unapologetically loud presence who values
long conversations and longer walks to unwind. She devours books of all kinds and can often be found indulging in the
lyrical sway of contemporary ghazals. She ardently believes that her relationship with her bylines is more sacred than
it would ever be with anyone across the human race.Catch all the Business News , Corporate news , Breaking News Events
and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.MoreTopics#JSW
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