Mining has been carried out in India for thousands of years with the first known instance dating back to the Indus Valley Civilization! It underwent modernization after the country gained independence in 1947. India is one of the major producers of minerals globally, which includes metallic, non-metallic and atomic types. The metallic minerals include ferrous and non-ferrous ones, while fuels, precious stones etc are non-metallic minerals. Indiaâs significant geological potential and competitive advantage in terms of low cost of production has made the country a forerunner in this area. India is among the top producers of coal, iron ore and crude steel, and also contributes significantly in aluminium and bauxite production.
Mining is one of the core sectors promoting growth in the Indian economy. It not only contributes to the economy but also acts as a catalyst for the growth of other core industries like power, steel, cement etc. as it provides the raw materials required by them. The rapid pace of infrastructure development and demand for cement are some factors driving growth in this sector. Along with this, a rise in automotive production, increasing usage of power etc are all positively affecting growth in the mining industry.
There is significant scope for employment in the mining sector.