India has today emerged as the biggest producer of Sponge Iron in the world. This growth has been propelled by the availability of high quality iron ore and non-coking coal in the country. Owing to this fact many clusters of small scale and medium scale units developed in states like Chattisgarh, Orissa, Andhra Pradesh and Karnataka which are blessed with this valuable raw material. The number of units in and around these states still continue to grow today, as the industry is in the middle of a boom with prices being stable and user industries such as construction, auto showing handsome growth. The current sentiment in the market is also bullish on the immediate future and all figures point towards continued optimism.

India's Iron ore reserve and it's availability for commercial use has now become a point of contention and debate between the policy makers, steel producers and the mine owners. This has been brought about by increase in exports and stiff competition being witnessed in the marketplace. The question that this throws up is, how are things likely to shape-up in the future for the players who are currently riding a wave of optimism and buoyancy prevalent in today's market ? It is therefore not a mere coincidence that the Govt. of India has imposed export duty on Iron Ore exports. Issues such as generation of power or Co-Generation module, the idea of Integrated Mini Steel Complexes, financing and viability of such projects, still requires careful and detailed consideration and discussion.

All these topics have to be handled very prudently to safeguard, secure and encourage the industry going forward. This is exactly where the Iron and Steel Summit '08 comes into the picture.