Indian government approved the Mineral Laws (Amendment) Ordinance 2020 on Wednesday which had opened coal mines for non-coal companies.The decision is likely to benefit India’s steel sector.  

 

The ordinance aims to reduce the India’s dependence on coal imports and attract investments from domestic and global corporates, according to Apex steel industry body Indian Steel Association (ISA). 

 

The move could make the Indian steel industry more competitive on global level and reduce the cost of production in steel sector. The production cost of Indian steel at present is higher at $450/mt, with China, at $350/mt.

 

 

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