Industry Overview

• The Mining industry in India is one of the core industries of the economy. It provides basic raw materials to many important industries.
• India is the World’s Second Largest Coal Producer and the 5th Largest Country in terms of Coal Deposits.
• India targets 1.2 BT Coal Production by 2023-24.
• India has become the World’s Second Largest Producer as well as Consumer of Steel. During the financial year 2020-21, the total finished steel consumption in the country was 96.2 MT and is expected to reach about 160 MT by 2024-25 and about 250 MT by 2030-31.
• India is home to 1,531 operating mines and produces 95 minerals, which includes 4 fuels, 10 metallic, 23 non-metallic, 3 atomic and 55 minor minerals (including building and other materials).
• Based on the geological mapping of the country, an area of 571,000 sq. km, out of a total of 3.1 mn sq. km. has been demarcated as an Obvious Geological Potential (OGP) area, where the eological potential for the occurrence of mineral deposits is higher.
• India has rich deposits of Coal in the World. The total estimated reserves of Coal in 2020 were 344.02 BT, an addition of 17.53 BT over 2019 in the corresponding period.
• Metals sector engages 11.49 Lakhs of people consisting of 7.06 % of the total employment share.