India's Mineral Production Up 7.5% in FY24
ECONOMY & POLICY

India's Mineral Production Up 7.5% in FY24

India's mineral production witnessed a notable increase of 7.5% in the fiscal year 2023-24, with iron ore and limestone recording record-high outputs. This growth underscores the resilience and strength of India's mining sector amidst evolving market conditions and economic challenges.

According to recent data, mineral production in India surged by 7.5% during FY24, driven by robust performances in key sectors such as iron ore and limestone. Iron ore production reached record levels, reflecting increased demand and improved mining operations efficiency.

Limestone production also saw a significant uptick, reaching record-high outputs in FY24. This growth in limestone production is attributed to factors such as infrastructure development projects and rising demand from various industries, including cement manufacturing.

The increase in mineral production is a positive sign for India's mining sector, indicating its ability to withstand external pressures and contribute to the nation's economic growth. The mining industry plays a crucial role in India's economy, providing raw materials for various sectors and generating employment opportunities across the country.

The rise in mineral production bodes well for India's industrial and infrastructure development, as it ensures a steady supply of essential raw materials for manufacturing and construction activities. Moreover, the record-high outputs in iron ore and limestone production demonstrate the mining sector's potential to drive economic expansion and support sustainable development initiatives.

As India's mineral production continues to grow, the government and industry stakeholders are encouraged to pursue responsible mining practices and ensure environmental sustainability. By harnessing the potential of the mining sector, India can enhance its self-sufficiency in raw materials and bolster its position as a global player in the mineral resources market.

India's mineral production witnessed a notable increase of 7.5% in the fiscal year 2023-24, with iron ore and limestone recording record-high outputs. This growth underscores the resilience and strength of India's mining sector amidst evolving market conditions and economic challenges. According to recent data, mineral production in India surged by 7.5% during FY24, driven by robust performances in key sectors such as iron ore and limestone. Iron ore production reached record levels, reflecting increased demand and improved mining operations efficiency. Limestone production also saw a significant uptick, reaching record-high outputs in FY24. This growth in limestone production is attributed to factors such as infrastructure development projects and rising demand from various industries, including cement manufacturing. The increase in mineral production is a positive sign for India's mining sector, indicating its ability to withstand external pressures and contribute to the nation's economic growth. The mining industry plays a crucial role in India's economy, providing raw materials for various sectors and generating employment opportunities across the country. The rise in mineral production bodes well for India's industrial and infrastructure development, as it ensures a steady supply of essential raw materials for manufacturing and construction activities. Moreover, the record-high outputs in iron ore and limestone production demonstrate the mining sector's potential to drive economic expansion and support sustainable development initiatives. As India's mineral production continues to grow, the government and industry stakeholders are encouraged to pursue responsible mining practices and ensure environmental sustainability. By harnessing the potential of the mining sector, India can enhance its self-sufficiency in raw materials and bolster its position as a global player in the mineral resources market.

Next Story
Real Estate

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

Next Story
Real Estate

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Next Story
Infrastructure Urban

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement