India's Mining Sector Shows Strong Growth in FY24
India's mining sector witnessed significant growth in FY24, with production of key minerals like iron ore and limestone registering impressive gains. The sector grew by 7.5% overall, driven by robust demand from user industries like steel and cement.
Iron ore production reached 277 million metric tonnes (MMT) in FY24, a 7.4% increase from the previous year. Similarly, limestone production surpassed the previous record of 406.5 MMT, reaching 450 MMT in FY24, marking a 10.7% growth.
This growth reflects the strong demand conditions in the user industries, indicating robust economic activity in sectors like energy, infrastructure, construction, automotive, and machinery.
In the non-ferrous metal sector, primary aluminium production also increased from 40.73 lakh tonnes (LT) in FY23 to 41.59 LT in FY24.
These positive trends highlight the importance of the mining sector in driving India's economic growth. The continued growth in production of key minerals like iron ore and limestone is crucial for meeting the demand of various user industries and supporting the country's infrastructure development.