A- | A | A+ हिंदी
A- | A | A+ हिंदी
Skip to main content
A- | A | A+ हिंदी
A- | A | A+ हिंदी
Skip to main content
राष्ट्रीय Parishad of India
India holds a fair advantage in production and conversion costs in steel and alumina. Its strategic location enables export opportunities to develop as well as fast-developing Asian markets. As of FY22, the number of reporting mines in India were estimated at 1,425, of which reporting mines for metallic minerals were estimated at 525 and non-metallic minerals at 720.
Minerals are precious natural resources that serve as essential raw materials for fundamental industries, so the growth of the mining industry is essential for the overall industrial development of a nation. The vast resources of numerous metallic and non-metallic minerals that India is endowed with serve as a foundation for the expansion and advancement of the nation's mining industry. India is largely self-sufficient in metallic minerals including bauxite, chromites, iron ore, and lignite as well as mineral fuels like coal and lignite. The industry has the potential to significantly impact GDP growth, foreign exchange earnings, and give end-use industries like building, infrastructure, automotive, and electricity, among others, a competitive edge by obtaining essential raw materials at reasonable rates.
Production level of important minerals in February, 2023 were: Coal 861 lakh tonnes, Lignite 41 lakh tonnes, Natural gas (utilized) 2595 million cu. m., Petroleum (crude) 22 lakh tonnes, Bauxite 1995 thousand tonnes, Chromite 330 thousand tonnes, Copper conc. 9 thousand tonnes , Gold 9 kg, Iron ore 245 lakh tonnes, Lead conc.31 thousand tonnes, Manganese ore 278 thousand tonnes, Zinc conc. 144 thousand tonnes, Limestone 336 lakh tonnes, Phosphorite 183 thousand tonnes, Magnesite 10 thousand tonnes and Diamond 17 carat.
In FY23, production of crude steel at 125.32 million tonnes (MT), finished steel at 121.29 MT and consumption of finished steel at 119.17 MT has exceeded their respective levels achieved over the corresponding period of not only COVID affected last two years but also pre COVID years as well.
India's iron ore production stood at 250 MT in FY22, increase of 23% compared with 204 MT in FY21.
India's overall coal production has seen a quantum jump to 893.08 MT in FY23 as compared to 728.72 MT in FY19 with a growth of about 22.6%.
Some of the investments/ developments in the Metals & Mining sector in the recent past are as follows:
There is a significant scope for new mining capacities in iron ore, bauxite and coal and considerable opportunities for future discoveries of sub-surface deposits. Infrastructure projects continue to provide lucrative business opportunities for steel, zinc, and aluminium producers. Iron and steel make up a core component for the real estate sector. Demand for these metals is set to continue given strong growth expectations for the residential and commercial building industry.
The Government of India has also helped in the development of the metals and mining sector in India by launching key policy initiatives. The National Mineral Policy, which was approved by the government in February 2019, has ensured improved regulation and enforcement, more transparency, balanced social and economic growth, and sustainable mining techniques. The policy grants industry status to the mining activities and boost private sector funding.
Additionally, it aims to facilitate the merger and acquisition of mining companies, entice private sector involvement in exploration, and permit the transfer of mineral corridors created specifically for metals and mining leases. In the future, both increased domestic demand and exports are projected to play significant roles in driving the industry's expansion and its contribution to GDP growth in a post-covid environment.
