India’s mining and quarrying sector experienced a significant boost in October 2023, with the index of mineral production rising by 13.1% compared to the same month in the previous year. The index, based on a 2011-12 baseline of 100, reached 127.4 in October 2023, according to provisional statistics released by the Indian Bureau of Mines (IBM).
This positive trend is part of a broader pattern observed over the first seven months of the fiscal year. From April to October 2023-24, the sector recorded a cumulative growth of 9.4%, indicating a robust recovery and expansion of mining activities across the country.
Several key minerals contributed to this growth. Iron ore production saw a remarkable increase of 66.8%, with its value rising from ₹3,518 crore to ₹8,411 crore. Manganese ore production grew by 33.1%, gold by 19.6%, coal by 18.5%, and limestone by 14%. Other minerals such as zinc concentrate, natural gas, magnesite, lead concentrate, and crude petroleum also reported positive growth rates.
However, not all minerals experienced growth during this period. Production declines were noted in lignite (0.8%), copper concentrate (4.6%), bauxite (13.3%), chromite (24.2%), and phosphorite (38.6%). These decreases highlight the varying dynamics within the sector and the need for targeted strategies to address specific challenges.
Overall, the substantial increase in mineral production underscores the resilience and potential of India’s mining sector, reflecting effective policy measures and a favorable market environment.
