Mining for lessons

Given that iron ore output fell 40% and exports 85% between FY11 and FY14, roughly the time the ban on iron ore mining was in place in Karnataka and Goa, the lifting of the bans has brought about a palpable sense of relief—for standalone steel mills, large exporters, as well as India’s current account deficit which was hit not just by less ore exports, but had to bear the brunt of more steel scrap imports.

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