Kolkata, Aug. 21 -- JSW Steel, India's largest importer of iron ore, plans to gradually eliminate imports of the key steelmaking raw material as domestic supplies improve and new mines become operational, according to a top company executive.

The shift could reduce India's dependence on overseas supplies and insulate the steelmaker from global price shocks, potentially limiting raw-material cost inflation as the country ramps up infrastructure spending. India has some of the world's largest iron ore deposits, and the government is pushing to raise domestic production of the reddish raw material.

"Objectively, we want to be done away with import," said Puneet Jagatramka, executive vice president, central procurement cell-OPEX & bulk raw ...