Mining the Future
- India’s cumulative production of Crude Steel was at 113.44 Million Tonnes (MT), Finished Steel at 109.35 MT and consumption of finished steel at 107.20 MT, during Apr-Feb, FY23
- India's finished steel production has increased by over 6%, whereas globally, steel production declined by 4.2% in calendar year 2022
- Steel consumption has grown over 11% to 119 MT in FY 2023 from 105 MT in FY 2022
- The steel industry has significant growth potential aims to achieve 300 MT production capacity by 2030
- Coal production during Apr 2023 was 73.02 MT with a growth of 8.67% as compared to 67.20 MT during Apr 2022
- With an objective to enhance coal availability, Ministry of Coal has offered 103 coal/lignite blocks for auction under 7th round of auction and 29 agreements have been signed for mines which were auctioned in 6th round of auction.
- In the year 2021-22, coal production increased by 8.67% over the previous year
- Coal is projected to remain the largest single source of electricity in India in 2040
- Lignite reserves in the country are estimated at around 46.20 Billion Tonne (as on 01.04.2022)
- MOIL Limited has recorded its 2nd highest production since inception, registering 6% growth over the previous year with the production of 13.02 lakh tonnes of Manganese Ore in FY 2022-23.
- The cumulative growth of India’s mineral production for the period Apr- Jan, 2022-23 over the corresponding period of previous year was 5.8%
The country’s FDI Policy for the metals and mining sector allows:
- 100% FDI through automatic route in the steel sector.
- 100% FDI through automatic route in the mining sector.
- 100% FDI for coal and lignite under automatic route.
For further details, please refer FDI Policy
- Mn Tonnes
Coal production in FY 2023
- $ Bn
FDI equity inflows to metallurgical industries and mining (Apr 2000 - Mar 2023)
- $ Mn
FDI equity inflows to coal production (Apr 2000 - Mar 2023)
Largest sponge iron (DRI) producer
2nd largest crude steel and coal producer in the world
4th largest iron ore producer in the World
- Industry Scenario
- FOREIGN INVESTMENT
- INDUSTRY TRENDS
- POLICIES & SCHEMES
With the launch of the National Mineral Policy 2019 and the Mines and Minerals (Development and Regulation) Amendment Act 2021, India presents a major opportunity for investors looking to invest in the metal industry in India.
India has large reserves of Iron ore, Bauxite, Chromium, Manganese ore, Baryte, Rare earth and Mineral salts.
The Metals and Mining sector in India is expected to witness a major reform in the next few years, owing to reforms such as Make in India Campaign, Smart Cities, Rural Electrification, and a focus on building renewable energy projects under the National Electricity Policy as well as the rise in infrastructure development.
A major segment or iron & steel industry is the segment of secondary producers which contributes more than 40% to the production of crude steel. The role of secondary steel sector in infrastructure development is immense.
Export duty on Iron ores/ concentrates and iron ore pellets was raised to 50% and 45% respectively. In addition, 15% export duty was imposed on pig iron and several steel products.
Recognizing the importance of bringing sustainability in coal mining, a “Sustainable Development Cell” has been created in Ministry of Coal and in all coal PSUs to promote adoption of better environment management practices in coal mines.
|Key parameters||FY 2014-15||FY 2022-23||% increase|
|Crude Steel Capacity (MT)||109.85||160.3||46%|
|Crude Steel Production (MT)||88.98||126.26||42%|
|Total Finished Steel Production (MT)||81.86||122.28||49%|
|Per Capita Steel Consumption (Kg)||60.8||86.7||43%|
Cost advantage in steel and alumina production-conversion
Rising demand from infrastructure and transportation sectors
Schemes such as Housing for all by 2022 and expansion of railway network
Only 20% of the total reserves of minerals have been mined till now
Supportive government policies
Permission granted to captive mines to sell coal in open market
Atmanirbhar Bharat Abhiyan
Production Linked Incentive scheme in specialty steel sector has been introduced under Atmanirbhar Bharat 3.0 package
Single Window Clearance Portal
A unified platform that facilitates the grant of clearances and approvals required for starting a coal mine in India
Industrial Land Bank Portal
GIS - based map displaying available infrastructure for setting up business operations in the state.
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