Arguing that India has adequate iron ore amounting to exportable surplus,commerce minister Anand Sharma shot down steel ministrys opposition to renew NMDCs long-term agreement (LTA) with Japanese steel mills for exporting iron ore for another five years. Delving at length on the issue of mandating National Mineral Development Corporation to renew its five-year LTA which expires on March 31 this year,Sharma said that Indian steel utilities dont have adequate capacity to utilise the existing produce and there was no question of snapping the export ties. The issue is,we cannot stop iron ore mining nor can we stockpile it as it could unleash environmental hazards,Besides,the GoM constituted for the purpose has categorically ruled against discontinuing exports to Japanese Steel Mills (JSMs), the commerce minister pointed out. When asked when does the government intend to finalise the much-touted manufacturing policy,Sharma said his ministry has recently concluded stakeholder consultations and inter-ministerial consultations. We will take a final view on it very soon. We want to take the share of manufacturing in GDP from 16 to 24 per cent. We also have to take rapid steps in skill development and training and also bring in proven good models from other countries, he reasoned. In reply to a question on whether his ministry was open to re-looking at onion exports,the minister said the time has not come yet.
