India Eyes Boost in Iron Ore Production Amid EU Trade Talks
Commerce Minister Piyush Goyal announced steps to increase iron ore production and maintain competitive prices, alongside advancing trade negotiations with the EU. An advisory group will guide these efforts, as India breaks record iron ore production levels. The India-EU Free Trade Agreement is nearing completion.
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Union Minister of Commerce and Industry, Piyush Goyal, revealed the government's initiative to enhance iron ore production in collaboration with the steel industry, aiming to maintain competitive pricing for domestic markets. Speaking at the 6th ISA Steel Conclave, Goyal highlighted plans to boost both production and exportation.
To achieve this, the government is forming an advisory group, including stakeholders from public and private sectors, to devise actionable plans. This collaborative effort is set to increase production targets, which have already seen substantial growth with 289 MMT produced in FY 2024-25.
Moreover, Goyal expressed optimism about the ongoing India-EU Free Trade Agreement talks, with 60% of its chapters finalized. The negotiations aim for a significant conclusion ahead of the EU Trade and Food Commissioners' visit to India, signaling a robust trade future.
(With inputs from agencies.)
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