Why India's iron ore imports are rising

A global glut of highgrade iron ore is reshaping India’s raw material economics—and pushing steelmakers to import more at home’s expense.

- Dipali Banka & Nehal Chi- nawalalla

The country’s iron ore imports climbed to a seven-year high in 2025, as shortages of high-grade domestic ore, softer global prices and logistical challenges pushed steelmakers to look overseas—raising concerns over raw material security just as capacity expansion accelerates.

India imported 12.2 million tonnes of iron ore in calendar year 2025, nearly double the previous year, according to commodities market intelligence firm Big Mint. Brazil and Oman emerged as the largest suppliers, with JSW Steel alone accounting for nearly 80% of total imports.

The surge has been led largely by company-specific supply constraints as well as broader pricing dynamics.