INDIAN MINING INDUSTRY AT A GLANCE IN 2022 - 2023
India is the second-largest producer of coal and crude steel in the world and also the fourth-largest iron ore producer in the world. As of FY22, the number of mines in India were estimated at 1,245, of which metallic minerals were estimated at 525 and non-metallic minerals at 720. India is largely self-sufficient in metallic minerals including bauxite, chromite, iron ore, and lignite as well as mineral fuels like coal and lignite.
In FY22, mineral production was estimated at Rs.190,392 crore (US$ 24.95 billion).
In FY23, production of crude steel at 125.32 million tonnes (MT), finished steel at 121.29 MT and consumption of finished steel at 119.17 MT.
India's iron ore production stood at 250 MT in FY22, and that is an increase of 23% compared with 204 MT in FY21.
India's overall coal production jumped to 893.08 MT in FY23 as compared to 728.72 MT in FY19 with a growth of about 22.6%.
Industry DevelopmentsIn FY23, the combined index of eight core industries stood at 152.2 driven by the production of coal, refinery products, fertilizers, steel, electricity and cement industries.
In 2022, FDI inflows in the metallurgical industry stood at US$ 17.09 billion, followed by the mining industry (US$ 3.405 billion).
