Growing Indian Mining Industry: Bright prospects for Mining and Construction Equipment

/Growing Indian Mining Industry: Bright prospects for Mining and Construction Equipment

Growing Indian Mining Industry: Bright prospects for Mining and Construction Equipment

Aug – Nov 2017

India’s Metallurgy and Mining Industry is an essential pillar in its economy and industries with its vast mineral resources. The future of the Indian mining industry lies in digital adoption that can enable new ways to drive productivity according to an EY report released by the Federation of Indian Mineral Industries (FIMI). Increased government spending and campaigns to drive local manufacturing and the export industry contribute to a steady and constant growth of the Metallurgy and Metals Industry. Its advantage in production cost and the country’s strategic location which allows convenient export routes, make India an attractive location for foreign investors.

In The Press

14.08.17 – The Times of India

MCE sector likely to grow by 13-17% in 2017: ICRA

Mining and Construction Equipment (MCE) Sector grew by over 35% during CY2016 and is likely to grow by 13-17% in 2017 according to the rating agency owing to the demand growth.

22.08.17 – Money Control

As oil stabilises, global players will drill for more deals, giving India an edge

Companies who are suppliers of equipment or services tend to gain from increased investment in the sector.

08.09.17 – The Economic Times

Indian demand for non-ferrous metals expected to grow at 8 per cent between 2016 and 2021

The performance of the non-ferrous metals industry in India has “far outpaced” the global trend owing to its huge raw material reserves, wide demand base and relatively low cost of production according to a KPMG report.

13.09.17 – The Indian Express

To open coal mining sector, govt set to auction 10 mines

Seven months after the Centre had announced that the coal mining sector would be opened for commercial mining in 2017-18; the government has decided to offer 10 mines for auction as a first phase.

21.09.17 – The Economic Times

Domestic metals sector is seeing robust demand with higher prices 

Digital technologies will have a greater say in the course of domestic mining industry and help shape its future across the value chain in India according to the report ‘Metals on Track: Digital to sustain growth.’

23.10.17 – Mining Weekly

India relaxes rules for coastal and offshore mining

To deepen exploration and mining of atomic and rare earth minerals across the country, the  government has notified that it will relax mining norms in fragile coastal areas and that the exploration and mining of 11 specified minerals in these areas will not be considered illegal.

30.10.17 – India Today

Jharkhand CM invites investment in mining sector

Jharkhand Chief Minister Raghubar Das urges industrial houses to explore opportunities to invest in the mineral-rich state. The state government is proactive in marketing outreach to attract foreign players.

01.11.17 – Business Standard

10% Growth in Mineral Auctions Achievable: Mr Arun Kumar, Secretary (Mines)

There is a notable turnaround in the mining sector with the mineral auction scenario set to reach a 10% growth by the end of the current fiscal year. The new National Mineral Exploration Policy (NMEP) may add further to growth rate.

07.11.17 – Business World

Mining Sector Can Create Upto 25 million Jobs In India

The mining sector, which is aiming to contribute 7-8% to the country’s GDP, has the potential to create 25 million jobs, directly and indirectly, in the country.

2018-04-28T10:09:21+00:00