IBEF – India Metals and Mining, 2023

India's coal production in FY23 reached 893.08 million tonnes (MT), a significant increase from 728.72 MT in FY19. This represents a growth of approximately 22.6%. From April to August 2023, coal production reached 361.02 MT, showing an 11.38% growth compared to the same period in the previous year. The Ministry of Coal has set an ambitious target of producing 1.23 billion tonnes (BT) of coal by 2024-25. Regarding aluminium production, India is the second-largest producer globally with a capacity of around 4 million tonnes per annum (MTPA). In FY23, the production of aluminium was 35.03 lakh tonnes. India also stands as the fourth-largest producer of iron ore. In FY22, the iron ore production reached 250 MT, representing a substantial increase of 23% compared to 204 MT in FY21. Additionally, exports of iron ore reached US$ 2.5 billion in 2021-22, a decrease from US$ 5.0 billion in 2020-21. India is a significant global force in steel production and is the second-largest crude steel producer worldwide. From April to August 2023, crude steel production reached 5.81 MT, and finished steel production was 5.51 MT. In FY23, crude steel production reached 125.32 MT, finished steel production reached 121.29 MT, and the consumption of finished steel reached 119.17 MT. These numbers surpass the levels achieved in the corresponding period of the last two years affected by COVID-19 and even pre-COVID years. Overall, India's metals and mining sector is experiencing substantial growth in coal, aluminium, iron ore, and steel production, positioning the country as a prominent player in these industries globally.