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the sagging prices of engineering goods in the global market. Japan has clocked a 0.9 % growth in GDP in Q2, CAD at (+) $54.1 billion in June 2013.
The reversal of negative growth in the major consumption points holds better prospects for Indian exports.
The latest pressure put in by minersí lobby and their associates to relax export curbs on iron ore is another temporary reprieve suggested with adverse long term implication of depletion of irreplaceable natural resources. We should learn from the Chinese treatment of its natural resources which has nearly eliminated exports of precious mineral reserve.
The utilization of fines through beneficiation and pelletisation (agglomeration) plants set up with considerable investment by the major steel producers, albeit much delayed, must be rewarded.
The author is DG, Institute of Steel Growth and Development. The views expressed are personal