'Capping iron ore prices will be fatal for industry'

Amid talks of capping iron ore prices, miners' body FIMI has warned that any such move by the government could prove fatal for the industry at a time when there are signs of turnaround.

India's iron ore output is projected to grow to about 170 million tonnes (MT) this fiscal despite ban and has surged 27 per cent to 154.48 MT during April-January as against 122 MT in the same period of 2015-16.

"If at all the government has to put a price cap, it should cap steel prices which impact millions of consumers through downstream industries instead of iron ore for which there are limited buyers -- a few steel companies," Secretary General, Federation of Indian Mineral Industries (FIMI), RK Sharma told

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)