Steel production in India could reach 500 million tonnes by 2050, nearly four times current levels, as New Delhi seeks to underpin its obvious growth ambitions with rapid capacity expansion for the primary infrastructure alloy, according to a senior executive at mining major BHP. According to Vandita Pant, BHP's chief commercial officer (CCO), the global mining company, which supplies energy needs for the world's second-largest steel industry after China, could be a major growth partner as India expands its output to support rapid economic growth.

Met coal, also known as coking coal, is a critical raw material used in the production of steel, and India is entirely reliant on imports to meet this demand.

"BHP meets approximately 36% of India's demand for met coal." It's a significant figure. BHP supplies one out of every three tonnes of met coal consumed in India, according to Pant.

BHP, the world's largest mining company, exports approximately 40% of its met coal portfolio from Australia to India.

"It's a symbiotic relationship that's huge for us and India," Pant said. India is one of BHP's top three customers. "And India is just getting started on growth, so I see it as this is the starting point rather than the ending point for India," she said.