Yes, there is a very strong correlation. Iron and steel industries are strategically located in regions rich in iron ore, manganese, and coal, such as the Chota Nagpur Plateau. This is because iron ore (the primary raw material), manganese (for hardening steel), and coking coal (for fuel) are all heavy and bulky. Locating the industry near the raw material sources minimises transportation costs and makes the production process more economically viable.