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Metal and mining industry in India

India is the world's second-largest aluminium producer and fifth-largest iron producer.

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Metal and mining industry in India

India is endowed with vast reserves of numerous metallic and non-metallic minerals. The country is therefore largely self-sufficient in metallic minerals such as bauxite, chromite, iron ore and lignite, as well as mineral fuels such as coal and lignite.

The industry has the potential to significantly impact GDP growth and foreign exchange earnings, and give end-user sectors such as construction, infrastructure, automobile and power industries a competitive edge by supplying essential raw materials at reasonable prices.

By 2023, the number of active mines in India was estimated at 1319, of which 545 extract metallic minerals and 774 non-metallic minerals.

The sector’s growth is driven by the Indian government’s investments in the country’s infrastructure and the fast growing automotive industry. The power and cement industries are also contributing to the growth of the sector. Demand for iron and steel will continue given strong growth prospects for residential and non-residential construction.

Snapshot of the metal and mining industry in India
  • India is rich in the following minerals: gold, copper, bauxite, chromite, phosphorite, limestone, coal, natural gas, petroleum (crude), iron ore, manganese ore, magnesite, lignite, lead and zinc.
  • India is the second largest aluminium producer, third largest lime producer and fifth largest iron ore producer in the world.
  • The mining sector’s mineral production index for 2024, at 139.6, was 8% higher than in 2023.
    India’s total coal production jumped from 7289 tonnes in 2019 to 997 tonnes in 2024.
  • India will be the ‘biggest growth market’ for aluminium consumption in the coming years as the country invests heavily in infrastructure. Consumption will triple to 9.5 million tonnes of aluminium by 2030.
Our expert
Praveen Singhal Country Head India
Nirali Varma Head of Cross Cultural Business
Maarten van der Schaaf Head of BD Netherlands & Belgium

Growth indicators of India's metals and mining industry

  • As the third most energy-consuming country in the world, there is always a demand for energy and electricity and hence an increasing demand for coal.
  • There is significant potential for new mining capacities in iron ore, bauxite and coal.
  • India’s metal and mining industry is booming thanks to investments in infrastructure and the fast-growing automobile industry.
  • Demand for steel and aluminium is expected to grow by around 10% by 2024.
  • India’s demand for zinc is expected to double in the next five due to huge investments in the infrastructure sector.
  • Going forward, both increased domestic demand and exports are expected to play an important role in the expansion of the industry and its contribution to GDP growth.
Major Indian metals and mining companies
Tata Steel​
Steel Authority of India​
NMDC Ltd.​
JSW Steel​
Accurex Steel Rolling Mills​
SRB International​
Larsen & Toubro
BEML​
Major foreign metals and mining companies in India
NSL Consolidated​
BHP Billiton​
Rio Tinto
Vedanta Resources
JFE Steel Corp.​
China Steel Corp.​
John Deere
Caterpillar Corp.​

Interesting investment opportunities

  • Mines have permission to sell coal on the open market. So far, only 20% of the total reserves have been mined.
  • Rising demand for steel, zinc, aluminium, etc. from infrastructure and transport sector.

Do you have a specific question about opportunities for your company or product in the Indian metal and mining industry?

Contact our experts here