Metals & Mining Industry in India

India is the second-largest producer of coal and crude steel in the world and also the fourth-largest iron ore producer in the world.

Advantage India

Demand
Growth

* 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.

* India has set the targets of achieving a total crude steel capacity of 300 million tonnes per annum (MTPA) and total crude steel demand/production of 255 MTPA by 2030-31.

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.

* Ministry of Mines announced the National Mineral Policy 2019 in March, 2019 which replaced the National Mineral Policy 2008. This policy allows State Governments to take advance action for auction of mineral blocks before the expiry of lease period

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 1,319, of which reporting mines for metallic minerals were estimated at 545 and non-metallic minerals at 775.

* India is the second-largest crude steel producer in the world.

Last updated: Feb, 2024

Major Mining States

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

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