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India’s mining sector grows by 7.5% in FY24

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India’s mining sector grows by 7.5% in FY24
The mining industry in India expanded by 7.5% in FY24.

According to an official statement released on Friday, the mining industry in India expanded by 7.5% in FY24, with significant development observed in the production of limestone and iron ore. The mineral production index for the month of March was 1.2% higher year over year at 156.1.

Iron ore production increased by 7.4% from 258 million metric tonnes (MMT) in 2022–2023 to 277 million MMT in 2023–2024.

“Showing a similar trend, limestone production has also surpassed the production record of 406.5 MMT achieved in FY 2022-23, increasing by 10.7 per cent to 450 MMT in FY 2023-24,” the statement continued.

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The solid demand conditions in the user industries, specifically, are reflected in the growth in output of limestone and iron ore. cement and steel.

These development tendencies, when combined with the rapid rise in aluminium, indicate robust economic activity in user sectors like energy, infrastructure, construction, automotive, and machinery.

Primary aluminium production in the non-ferrous metals industry increased from 40.73 lakh tonne (LT) in 2022–2023 to 41.59 LT in 2023–2024.

India ranks third globally in the production of lime, fourth globally in the production of iron ore, and second globally in the production of aluminium.

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