June 22, 2016
- Minerals Exporters In India ,
- Minor Minerals Exporters ,
- Minor Minerals Suppliers ,
- Natural Minerals Exporters In India ,
Mineral consumption is growing at a rapid pace with maximum number of consumers entering the market and seeking for metallic, non-metallic and minor minerals. However, India is the 4th largest mineral producing country next to Russia, China and United States. It is the 4th largest in terms of coal reserves, 7th largest reserves of iron ore, 3rd largest in terms of chromite reserves and 5th largest country to reserve manganese ore in the world.
Different types of minerals
The country produces about eighty seven different types of minerals including metallic, non-metallic and fuel minerals. Apart from these, there are minor minerals as well as atomic minerals. With such huge production, minerals exporters in India are also growing faster and making extensive investment in their mining partners to serve their clients. Besides, the minor minerals exporters and the minor minerals suppliers are in demand.
Metallic minerals can be easily melted to form new products and these include zinc, silver, iron ore, gold, copper, tin, lead and many more to add. Non-metallic minerals are sedimentary rocks and cannot be melted to make new products. These may include dolomite, limestone, asbestos, gypsum and mica. While natural gas, coal, lignite and petroleum are the important fuel minerals, uranium and thorium are the naturally occurring atomic minerals and are typically used as sources of power.
Indian mining sector
The mining sector is one of the significant sectors in Indian economy and contributes to India’s Gross Domestic Products. A major portion of India’s mineral production is contributed by some of the principle mining states including Jharkhand, Karnataka, Odisha, Chhattisgarh, Andhra Pradesh, Madhya Pradesh and Rajasthan. These seven states also are known for reserving the key minerals of India. Most importantly, the development of mining industries in India plays a crucial role in the socio-economic development of the people especially in these seven states. Mining investments is eventually improving the livelihoods of the local population. Not only this, it is also brining in investment jobs and creation of wealth and enhancing government revenues. These industries also help the local communities by constructing schools and making provision for healthcare facilities.
Indian Mining industry is also seeing an accelerated development in the exports demand. With the growing natural minerals exporters in India, the key minerals that are exported from India involve chromite, iron ore and alumina. However, recent research indicates that the demand for these minerals is more likely to increase in the near future.
Key challenges faced by the Indian mining industry
There are several administrative and regulatory challenges in India which restrict the growth of mining industries in India to a large extent. These may involve
- The existing regulatory provisions make it a little difficult to shift mining leases. The impending licenses are non-transferable.
- Licenses for mining is typically given on a first come first serve basis without any valid and transparent system.
- The approval process for mining is long and complicated with several organizations involved. Moreover, disposal method of numerous applications for clearance is extremely slow.
- Private sectors have inadequate incentive to put in the development and improvement of equipment and technology required for important mining projects. This is because there is a heavy tax levied on the mining industry in India.