India has achieved significant milestones in its mineral production, recording substantial growth in both iron ore and limestone during the fiscal year 2023-24. The country produced 275 million metric tons (MMT) of iron ore and 450 MMT of limestone, marking all-time highs in these vital sectors.
This upward trajectory has continued into the early months of FY 2024-25 (April-May), with iron ore production rising to 52 MMT from 50 MMT in the corresponding months of the previous year, indicating a 4 per cent increase. Limestone production also demonstrated growth, increasing from 77 MMT to 79 MMT, a 2.6 per cent rise.
Manganese ore production has shown remarkable improvement, with a 16.7 per cent increase to 0.7 MMT during the same period. The non-ferrous metals sector is also experiencing positive trends. Primary aluminium production grew by 1.2 per cent year-over-year, from 6.90 lakh tons in FY 2023-24 (April-May) to 6.98 lakh tons in FY 2024-25 (April-May).
These developments underscore India’s position as a global leader in mineral production. India ranks as the second-largest producer of aluminium, the third-largest producer of limestone, and the fourth-largest producer of iron ore globally. The continued growth in production reflects robust demand conditions in various user industries. Iron ore and limestone are essential for the steel and cement industries, respectively, while aluminium’s applications span across energy, infrastructure, construction, automotive, and machinery sectors. The ongoing expansion in mineral production points to strong economic activity in these critical sectors, further bolstering India’s industrial base and contributing to its economic resilience. Analysts attribute this growth to several factors, including increased industrial demand, advancements in mining technology, and supportive government policies aimed at enhancing production capacities.
The sustained increase in mineral production not only strengthens India’s domestic supply chains but also enhances its export potential, contributing to the country’s economic stability and growth. As India continues to advance its industrial capabilities, the mineral sector’s performance will play a crucial role in supporting broader economic objectives and industrialisation efforts.
India’s impressive growth in mineral production during FY 2023-24, coupled with the early positive trends in FY 2024-25, highlights the nation’s robust industrial activity and its strategic importance in the global mineral market. The government’s ongoing focus on boosting production capacities and meeting the rising domestic and international demand is expected to sustain this growth trajectory, ensuring the continued vitality of India’s mineral sector.
