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 71.3 MT in FY23 (until October 2022).
* 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.
NMDC Ltd
Incorporated in 1958 as a Government of India fully owned public enterprise, NMDC is under the administrative control of the Ministry of Steel, Government of India. Since inception, it has been involved in the exploration of wide range of minerals including iron ore, copper, rock phosphate, limestone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, beach sands etc. NMDC is India's single largest iron ore producer, producing about 32 MT of iron ore from three fully mechanised mines (Bailadila Deposit-14/11C, Bailadila Deposit-5, 10/11A (Chhattisgarh State) and Donimalai Iron Ore Mines). The company has been categorised by the Department of Public Enterprises as "NAVRATNA" Public Sector Enterprise in 2008.
Read More
Hindalco Industries Ltd
Hindalco Industries Limited, metals flagship company of the Aditya Birla Group, is the industry leader in aluminium and copper. Hindalco is the world’s largest aluminium rolling company and one of Asia’s biggest producers of primary aluminium. Its state-of-the-art copper facility comprises a world-class copper smelter and a fertiliser plant along with a captive jetty. The copper smelter is among the world’s largest custom smelters at a single location. Hindalco ranks among the global aluminium majors as an integrated producer and a footprint in 11 countries outside India. Hindalco has been accorded Star Trading House status in India. Its aluminium is accepted for delivery under the High-Grade Aluminium Contract on the London Metal Exchange (LME), while its copper quality is also registered on the LME with Grade A accreditation. In FY 2021-22, Hindalco produced 3,235 MT of alumina. In the second quarter of FY23, company’s consolidated revenue stood at Rs. 56,176 crore (US$ 6,87 billion)
Read MoreVedanta Limited
Vedanta Limited is one of the world's leading diversified natural resources companies. The company’s main businesses focus on zinc, lead, silver, aluminium, copper, iron ore, oil & gas, and commercial power, while its operations span across India, South Africa, Namibia, Ireland, and Australia. The company holds industry-leading market shares across its core divisions. Vedanta Limited is a Vedanta Group company.
Read More
Coal India
Coal India Limited (CIL) is a state-owned coal mining corporation which came into existence in November 1975. It has been awarded the status of Maharatna company. With its normal production of 79 million tonnes (MT) in the year of its establishment, Coal India Limited is today the world's largest coal producer. CIL circulated through 83 mining areas, seven full-owned coal producer subsidiaries and one mining scheme and consulting company spread across eight provincial states of India. CIL manages 200 other establishments such as workshops, hospitals. In addition, 27 technical and management training institutes and 76 vocational training institutes are also managed by CIL. Indian Institute of Coal Management (IICM), a state-of-the-art management training ‘Centre of Excellence’ is the largest corporate training institute, operated under CIL and conducts multi-disciplinary management development programmes.
Read MoreRelated News
MOREMajor Mining States
- Andhra Pradesh
- Jharkhand
- Odisha
- Rajasthan
- Karnataka
- Madhya Pradesh
- Maharashtra
IBEF Campaigns
MORE
India Organic Biofach 2022
Ibef Organic Indian Pavilion BIOFACH2022 July 26th-29th, 2022 | Nurember...
Case Studies
MOREGrowth and Expansion of India’s Edtech Industry
Education has always been a prominent sector in the development and growth of India, and the government has always been focused on implementing polici...
Rise of the Indian Aviation Market
India has become the third-largest domestic aviation market in the world and is expected to overtake the UK to become the third-largest air passenger ...
India's Agritech Ecosystem
Agriculture plays a crucial role in developing India's economy. According to Census 2011, almost 54.6% of the country's workforce is engaged i...
IBEF BLOG
MORE
Asset Monetisation: Unlocking Capital for Infrastructure Development
Introduction The Government of India's objective of making India a US$...
Agriculture 4.0: Future of Indian Agriculture
Overview of Agriculture in India Agriculture plays a significant role in I...
ONDC to present opportunities to India’s local retailers
Introduction India is the world's second-largest digital economy in te...
Partners
