India Eyes Greater Russian Resource Supplies to Support Industry Growth
According to reports, an Indian delegation traveled to Russia in May for preliminary discussions with government officials and industry representatives regarding possible cooperation in the supply of strategic minerals and resources.
The move comes as India seeks to strengthen long-term access to materials essential for steel production and the country’s broader transition toward cleaner energy technologies.
Earlier this year, New Delhi classified coking coal as a critical and strategic mineral due to the country's heavy reliance on imports. India is currently the world’s second-largest crude steel producer after China, making stable access to raw materials a major priority.
“Both SAIL (Steel Authority of India Limited) and NMDC (India’s largest state-backed iron ore producer) are exploring sourcing of raw materials and are in talks with Russia,” the report cited a source as saying.
According to reports, SAIL has already established an internal committee to evaluate opportunities and assess possible arrangements related to resource procurement.
At present, Australia supplies more than half of India's coking coal imports, while additional volumes are sourced from countries including Russia and the United States.
Both coking coal and nickel play important roles in steel manufacturing, which is central to India's infrastructure development, renewable energy expansion, and electric vehicle ambitions. Nickel is particularly significant for battery production and other technologies linked to the clean energy sector.
India has set ambitious transportation goals for the coming years, aiming for electric vehicles to make up 30% of passenger cars and 80% of two-wheelers by 2030. Current figures are estimated at roughly 6% and 9%, respectively.
Reports indicate that NMDC has been examining opportunities to acquire overseas coking coal assets for some time. Last year, the company stated that it was evaluating potential investments in countries such as Australia and Indonesia.
While India currently imports most of its nickel from China, Japan, Norway, and the United States, only a limited share of its supplies comes from Russia. Expanding purchases from Russian producers could help diversify sourcing options as demand for the metal continues to rise.
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