Limiting iron ore exports for Aatmanirbhar Bharat is recommended by a CCI market study.

The Competition Commission of India (CCI) has advised against promoting the nation's export of iron ore since it is not a renewable resource.

Even though China is one of the world's top producers of iron ore, which has helped the East Asian nation become the world's top producer of steel, it was suggested that India should instead take up the Chinese tactic of importing iron ore.

"We can increase the domestic supply by discouraging such exports of (iron ore). A new Market Study on Mining Industry released by CCI on Monday stated, "It is crucial to keep in mind that excessive consumption of iron ore today might result in its depletion, affecting the resources available to future generations." 

India should prioritise exporting higher value-added products like finished steel as it moves towards Aatmanirbhar Bharat, according to a study report titled "Dynamics of competition in the mining sector in India with a focus on iron ore."

The study suggested that India should use the most advanced technologies to upgrade low-grade iron ore to higher grades through beneficiation processes in order to address the issue of the accumulation of low-grade iron ore after iron ore exports are discouraged.

The study made clear that in order to control the flow of "national wealth" abroad, the government has been periodically altering the structure of export duties for the iron ore industry. 

The export duty levied on low-grade iron ore, pellets, and specific steel products—including pig iron—was eliminated by the Centre on November 19, 2022. 

However, a reduced export duty of 30% is applicable to high-grade lumps and fines that contain more than 58% iron. "Strict control over its over exploitation is necessary, considering that iron ore is a non-renewable national resource and a vital raw material in various industries," the CCI study stated.

India produces enough iron ore to meet its own needs and contributes 7% of the world's total production, making it the fourth largest producer in the world, according to the study. 

In comparison to imports, the value of iron ore exports has increased significantly in recent years. After 2015, India's export competitiveness in iron ore has increased when measured by the Revealed Comparative Advantage Index, particularly for value-added products like pellets.