India Seeks Raw Materials From Argentina Indonesia And Oman

30 Mar 2026 CW Team

India will hold talks with Argentina, Indonesia and Oman at a global steel summit next month as it seeks to boost supplies of steelmaking raw materials such as coking coal and iron ore and to access technology, two sources with direct knowledge told Reuters. The discussions are part of a broader effort by the government to secure upstream inputs and to support rising domestic steel production driven by infrastructure spending and economic growth.

New Delhi relies on ferronickel imports for stainless steel manufacturing and is engaging Indonesia, which holds the world's largest nickel ore reserves, to ensure supply chains for nickel and related inputs. The country also imports iron ore from Oman and Brazil and has recently expanded cooperation with Brazil to diversify sources. With Argentina, India aims to secure lithium and other critical minerals for the National Mineral Development Corporation (NMDC).

The government in January set out plans to secure stable supplies of coking coal, lithium, cobalt and rare earth elements as it expands steel capacity and accelerates a transition to cleaner energy. Officials expect that diversifying suppliers and accessing technology partnerships will help maintain output and support higher exports. India is shifting export markets from Europe towards Asia and the Middle East to offset impacts from the European Union's carbon tax.

The sector is facing short-term challenges as a gas crisis, linked to the conflict in the Middle East, has threatened production at smaller steel units and prompted warnings about potential shutdowns at some plants. Officials and industry participants plan to use the summit to address supply risks and to explore technology transfer and investment opportunities that could strengthen resilience in steelmaking supply chains.

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