The metal and mining industry of India is expected to reach 305.5 billion in 2015. Production volumes have also been growing steadily over the years, it registered a CAGR of 5.2 per cent.The Government of India has allowed 100 per cent foreign direct investment (FDI) in the Mining sector under the automatic route. Mining lease has been granted for a long duration of minimum 20 years and up to 30 years.The National Mineral Policy was revised in 1994 and as a result, private investment has been permitted for the exploration of the following minerals:
Iron ore, Copper, Manganese, Lead, Chrome Ore, Zinc, Sulphur, Molybdenum, Gold, Tungsten ore, Diamond, Nickel and Platinum group of metals. Hence several foreign companies have begun investing in India, like Canada , the USA, Australia, the UK and South Africa.
There is significant scope for new mining capacities in iron ore, bauxite, and coal. Untapped metal reserves in India are to the tune of 82 Billion Tonnes. Strong long-term demand from the Indian industry is expected to further boost the Indian Mining industry.