Metals & Mining Industry in India

India's coal reserves are the fourth largest in the world. Additionally the country is also the second largest coal importer in the world.

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

* The steel production in India stood at 118 million tonnes (MT) in FY21.

* 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: Apr, 2022

Major Mining States

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

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