The significance and growth of mineral sector and industry in India.
With booming mineral sector, employment prospects are bright for the people in various parts of the country. Most of the mining is done in the coal sector that is around 80% and the rest 20% in other metals like gold, iron, copper, zinc, bauxite and uranium. The mineral resources in India are diverse and are very significant as well. Mica is produced on a large scale. In fact, India ranks 1rd in the production of mica and 3rd in chromite, coal, lignite and barites, 6th in bauxite, manganese ore, and 4th in iron ore and 10th in aluminum and 11th in copper ore, zinc concentrates, crude steel. The picture is quite bright and looks very attractive for investors and manufacturers. There is quite a demand for minerals in the world, and that is why the sector has a lot of potentials and will grow more. It has also contributed to the economy of the country.
Government investments and plans
The mining sector is related to the mineral resources and due to the initiatives of the government; the growth in the mineral sector has been phenomenal. Globalization and liberalization have created a favorable climate for the development and growth of the mineral sector. Exports take place on a large scale like iron ore, chromite, cut and polished diamonds, manganese ore and more. The government also has been checking the environment during the mining of minerals. There are measures followed so that there is sustainable development in the sector. Forests are being preserved as well as the rivers, mountains, etc., which are very delicate and restore the ecological balance. The favorable atmosphere in the country will continue to attract investors from within as well as outside.
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