Much of the growth in the industry’s value can be attributed to higher prices given that production volume growth was relatively lower at 3.2 per cent .
The total production stood at 716.3 million metric tonnes for the last five years, value of ore and mineral imports into India witnessed growth at a CAGR of 4.6 per cent.
In FY16, India’s iron ore imports declined by 60 per cent with the considerate improvement in the domestic production market.