Growth of Ores and minerals industry in India

Importance of Indian mining industry
The Indian mining industry holds an important position in economic activity. It contributes a lot in the current economy of India. At present, the GDP contribution varies in between 2.2% and 2.5%. If you consider GDP of the entire industrial sector, the contribution hikes up to 10% to 11%. Mining of Ores and minerals at minimal rate can even provide with a minimal contribution of 6%, when compared with the entire mineral production cost. The Indian mining industry offers job opportunities to not less than 70,000 individuals.
Statistics of Mineral section
Even though India comprises of arable land of 48.83%, it has a significant source of coal, titanium ore, bauxite, natural gas, chromite, petroleum, diamonds and limestone. As per the estimation, placed by 2008 Ministry of Mines, India has stepped up in their production level and reached the second rank among the other chromite producers on a global platform. Additionally, India now ranks 3rd in lignite and coal production, 4th when it comes to iron ore, 2nd place in barites and 5th place in manufacturing crude steel and bauxite. India even holds the 8th position in manufacturing aluminum and 7th, while producing manganese ore.
India is the largest exporter and producer of mica in the whole world, and account for nearly 60% of mica production. Finally, the item is exported to other parts of the world like Japan, UK, USA and more. It is also defined as one of the largest producers of iron ore. Here, a significant amount of iron ore is exported to Korea, Japan, Middle East and Europe. Additionally, India is the largest deposits of manganese, followed by the exporter of manganese ores. Manganese ores is mainly exported to Europe and Japan. Advantage of Kompass

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