Metals & Mining Industry in India

India's coal reserves are the fourth largest in the world, In FY22 India's coal production stood at 777.31 MT, a 8.55% YoY.

Advantage India

Demand
Growth

* Rise in infrastructure development is driving growth.

* Power and cement industries also aiding growth in the metals and mining sector.

* According to Directorate General of Commercial Intelligence & Statistics, in FY22 (until August 2021), iron ore exports reached US$ 2.23 billion, registering an increase of 21.8% YoY.

Attractive
Opportunities

* India’s crude steel production stood at 120 MT in FY22.

* In July 2021, the Odisha government approved five key industrial projects worth Rs. 1.46 lakh crore (US$ 19.60 billion) that are expected to boost capacity of steel production by 27.5 million tonnes.

Policy
Support

* In Union Budget 2021, the government reduced customs duty to 7.5% on semis, flat and long products of non-alloy, alloy and stainless steels to provide relief to MSMEs.

* To boost recycling of copper in India, the government announced reduction of import duty on copper scrap from 5% to 2.5% in the Union Budget 2021.

Competitive
Advantage

* India holds a fair advantage in cost of production and conversion costs in steel and alumina.

* As of FY22, the number of reporting mines in India were estimated at 1,245, of which reporting mines for metallic minerals were estimated at 525 and non-metallic minerals at 720.

Last updated: Oct, 2022

Major Mining States

  • Andhra Pradesh
  • Jharkhand
  • Odisha
  • Rajasthan
  • Karnataka
  • Madhya Pradesh
  • Maharashtra

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