While the Indian GDP grew at the rate of 4.6% in the first half of the current fiscal, the mining sector continued its negative growth trend of two previous fiscals and contracted by 1.6% during April-September, 2013. Output of the mining sector, with a weight of about 14% in Index of Industrial Production (IIP), had shrunk by 2.7% during April-October 2013 as against a contraction of 1%.
Indian iron ore production is expected to end at around the same levels of 2012-13 (136 MT) in the current fiscal as well, which will be a decline of over 62% from the peak of 218 MT achieved in 2009-10.
The mining ban also led to Indian firms going for large scale iron ore imports in 2013, which was in stark contrast to India's image of being the third largest iron ore exporter. While there is hardly any export happening, hovered around 7-8 MT in 2013-14.