India is taking important steps to secure the raw materials needed for its fast-growing steel and electric vehicle (EV) industries. State-owned companies Steel Authority of India Limited (SAIL) and NMDC Ltd are exploring opportunities to acquire coking coal assets in Russia and increase nickel imports from the country. The move is part of India’s broader strategy to ensure a stable supply of critical minerals for future industrial growth.
A delegation from India recently visited Russia and held preliminary discussions with government officials and industry leaders regarding potential investments and long-term sourcing agreements. Reports suggest that SAIL has also formed an internal committee to evaluate the feasibility of acquiring coal assets in Russia.
Coking coal is an essential ingredient in steel production, while nickel plays a major role in manufacturing EV batteries and stainless steel. India currently relies heavily on imports for both resources. The government has identified coking coal as a critical and strategic mineral and is working to diversify supply sources beyond traditional partners.
The initiative aligns with India’s ambitious goals of expanding steel production and increasing EV adoption. By strengthening partnerships with resource-rich nations such as Russia, India aims to improve supply security, support industrial expansion and accelerate its transition toward cleaner and more sustainable technologies.
