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

* In 2023, the mineral’s demand is likely to increase by 3%, driven by expanded electrification and overall economic growth in India.

* Being the third largest energy consuming country in the world, there is always increased demand for power and electricity in the country, and hence the surge in demand for coal.

* Demand for steel is likely to grow by ~10% as the government’s augmented focus on infrastructural development continues with increased construction of roads, railways, airports, etc.

Attractive
Opportunities

* By becoming Aatmanirbhar in producing speciality steel, India will move up the steel value chain and come at par with advanced steel making countries like Korea and Japan.

* Under PLI Scheme for Specialty Steel, 67 applications from 30 companies have been selected that will attract committed investment of Rs. 42,500 Crore (US$ 5.1 billion) with a downstream capacity addition of 26 million tonne and employment generation potential of 70,000.

Policy
Support

* Enactment of Mines and Minerals (Development and Regulation) Amendment Act, 2021 enabled captive mines owners (other than atomic minerals) to sell up to 50% of their annual mineral (including coal) production in the open market.

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: Apr, 2023

Major Mining States

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

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