The country ranks among the world's top five nations for its core competency commodity reserves of coal and iron ore.
Iron ore reserves are estimated to be of 23bnt (bn tonnes) and account for 6% of global reserves, while coal reserves are reported to be around 255bnt.
India is the world's third-largest producer of coal, fourth-largest producer of iron ore and the fifth-largest producer of bauxite.
However, only 10% of the country's landmass has been explored due primarily to significant regulation and bureaucratic obstacles. India's mining industry is set to reach US$36.2bn by 2016, as output growth of key minerals remain strong. However, growth in 2012 and beyond will continue to be curtailed by India's poor operating environment.
A bright spot, however, is the increasing number of Indian companies venturing overseas to secure stable, long-term supplies of minerals such as coal and iron ore in a bid to meet fast-rising domestic demand.