India Could Overtake China and Brazil in Iron Ore Output, Says Vedanta Chairman

India’s iron ore industry is witnessing strong momentum, and according to Vedanta Group Chairman Anil Agarwal, the country could soon overtake Brazil and China to become the world’s second-largest iron ore producer. The statement comes at a time when India’s iron ore output continues to show steady growth, thanks to its vast reserves and rising global demand.

A Steady Rise in Production

India’s iron ore production during April 2024 to January 2025 reached 236 million metric tonnes (MMT), marking a 3.5% increase from the same period last year. As per the Ministry of Mines, the provisional total for the financial year 2023–24 stands at around 275 MMT, showing a 7.5% year-on-year growth.

Vedanta’s Chairman Anil Agarwal believes that with the right focus and effort, India could raise its annual production to 700 million tonnes. “With our huge reserves, this target is very much achievable,” he said. “It would make India the second-largest iron ore producer in the world, after Australia.”

Abundant Reserves and State Contributions

India is rich in iron ore reserves, with an estimated 33 billion tonnes beneath its soil. Odisha continues to lead the pack, contributing 54% of the country’s total iron ore output. Karnataka and Chhattisgarh follow with 16% and 15%, respectively. Major producers include NMDC, SAIL, Odisha Mining Corporation, and Tata Steel.

Agarwal highlighted that tapping into these resources could drive large-scale development in mineral-rich states such as Chhattisgarh, Jharkhand, and Odisha. “These states currently have per capita incomes below the national average. But with their underground wealth, they could potentially double that average,” he added.

Iron and Steel: The Backbone of Growth

Iron is essential to modern life. From construction and automobiles to electronics, iron and steel are used everywhere. Agarwal stressed that India, currently the fourth-largest iron ore producer globally, has a unique opportunity to rise in the global rankings. “Only Australia, Brazil, and China are ahead. We are well placed to climb up.”

Vedanta’s Role in India’s Iron Ore Ambition

Vedanta Group’s firm Sesa Goa Iron Ore is actively involved in iron ore mining and processing across Goa, Karnataka, and Odisha. The company plays a crucial role in contributing to India’s growing output and supporting its ambitions on the world stage.

Conclusion

With rising production, strong reserves, and supportive policy frameworks, India is well positioned to strengthen its presence in the global iron ore market. As Agarwal Fittingly puts it, “Let us be visionary and think big.” This could indeed be a defining chapter in India’s mining story.

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