India's iron ore imports set to hit 7-year high in FY26

India's imports of iron ore, key raw material for steelmaking, are ‌set to rise to a seven-year high in FY26, analysts and industry experts said. This surge is driven by shortage of high-grade ore and demand from JSW Steel. The imports are likely to reach 12-14 ​million metric tons this financial year. Notably, India is world's second-largest crude ​steel producer.