April 2025 – Anil Agarwal, Chairman, Vedanta Group, today said that India can first overtake Brazil and then China to become the world’s second largest producer of iron ore.
He highlighted India’s growth potential in the global iron ore market and said, “It is difficult to imagine life without iron and steel, which is made from iron. Our homes, our vehicles, our gadgets, all require iron and steel. Today, India is the 4th largest producer of iron ore in the world, with a total output of 270 million tonnes per year. Only Australia, Brazil & China produce more.”
Explaining how India can surpass Brazil and China in iron ore production, he said, “Given our huge reserves, we can produce 700 million tonnes per year and become the 2nd largest after Australia, this is very much possible. The benefits this will bring to Bharat in terms of economic growth, jobs and revenue to government are massive.”
Fuelled by the vision of Atmanirbhar Bharat, India continues on its upward trend in mineral production. Iron ore accounts for 70 per cent of the total MCDR mineral production by value, with output reaching 274 million metric tonnes (MMT) in FY 2023-24. According to the Ministry of Mines, iron ore production has maintained its growth momentum in FY 2024-25, growing by 4.4 per cent from 252 MMT in FY 2023-24 to 263 MMT. India has a rich reserve of iron ore estimated to be 33 billion tonnes, which could be a key driver for the nation’s global mining ambitions.
The growth in mining is set to enable development across several Indian states that have been lagging behind in terms of economic growth. In this context, the Chairman said, “It will also lead to rapid development of states rich in iron ore like Chhattisgarh, Jharkhand and Odisha. At present, their per capita incomes are below the India average but, with their huge potential below the ground, can easily have double the India average. Let us be visionary and think big.”
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While growth in production will bring rapid development in iron ore rich states by driving economic progress and industrial expansion, in states where mining was halted, such as Goa, the resumption of mining will also significantly boost the local economy and create jobs.
The vision of Atmanirbhar Bharat has powered India’s remarkable growth and development. This continuous progress is positioning India as a standout player in a dynamic and uncertain global environment. Under this larger vision and framework, India has the potential to become one of the leading and sustainable global producers of important minerals.
