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Impact of lockdown on the mining industry in India

Mining is an essential industry that will provide key materials needed for India infrastructure development. Mining is one of the core sectors and growth driver of Indian economy. Minerals and ores provide basic raw materials to many important industries like power generation (thermal), iron and ste...

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Autor principal: Jain, Pradeep Kumar
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer Berlin Heidelberg 2021
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8056098/
http://dx.doi.org/10.1007/s13563-021-00263-6
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author Jain, Pradeep Kumar
author_facet Jain, Pradeep Kumar
author_sort Jain, Pradeep Kumar
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description Mining is an essential industry that will provide key materials needed for India infrastructure development. Mining is one of the core sectors and growth driver of Indian economy. Minerals and ores provide basic raw materials to many important industries like power generation (thermal), iron and steel, cement, petroleum and natural gas, petrochemicals, fertilizers, precious and semi-precious metals/stones for jewellery, electrical and electronics equipment, glass, ceramics, etc. The mining sector in India was poised for robust growth in financial year 2020–2021, on the back of rising demand from end-use sectors and fresh investments announced by the mining companies. However, the spread of COVID-19, right at the beginning of the financial year, has led to disruptions across industries. There is a significant scope for new mining capacities in iron ore, bauxite, coal and other minerals and considerable opportunities for future discoveries of sub-surface deposits. Infrastructure projects continue to provide lucrative business opportunities for steel, zinc and aluminium producers. Iron and steel make up a core component for the real estate sector. Demand for these metals is set to continue given strong growth expectations for the residential and commercial building industry. India’s mining sector expected to show positive growth in 2021 compared to 2020. As different arms of the government work with stakeholders to bring the economy on the growth path, it is important for the policymakers of mining to continue making such changes to the policies, which can ramp up the contribution of the sector to GDP. In the present paper, an overview of impact of lockdown on the mining industry in India is discussed with special reference to production scenario of minerals, employment, export-import scenario of ores and minerals and other developments during the period. SUPPLEMENTARY INFORMATION: The online version contains supplementary material available at 10.1007/s13563-021-00263-6.
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spelling pubmed-80560982021-04-20 Impact of lockdown on the mining industry in India Jain, Pradeep Kumar Miner Econ Report Mining is an essential industry that will provide key materials needed for India infrastructure development. Mining is one of the core sectors and growth driver of Indian economy. Minerals and ores provide basic raw materials to many important industries like power generation (thermal), iron and steel, cement, petroleum and natural gas, petrochemicals, fertilizers, precious and semi-precious metals/stones for jewellery, electrical and electronics equipment, glass, ceramics, etc. The mining sector in India was poised for robust growth in financial year 2020–2021, on the back of rising demand from end-use sectors and fresh investments announced by the mining companies. However, the spread of COVID-19, right at the beginning of the financial year, has led to disruptions across industries. There is a significant scope for new mining capacities in iron ore, bauxite, coal and other minerals and considerable opportunities for future discoveries of sub-surface deposits. Infrastructure projects continue to provide lucrative business opportunities for steel, zinc and aluminium producers. Iron and steel make up a core component for the real estate sector. Demand for these metals is set to continue given strong growth expectations for the residential and commercial building industry. India’s mining sector expected to show positive growth in 2021 compared to 2020. As different arms of the government work with stakeholders to bring the economy on the growth path, it is important for the policymakers of mining to continue making such changes to the policies, which can ramp up the contribution of the sector to GDP. In the present paper, an overview of impact of lockdown on the mining industry in India is discussed with special reference to production scenario of minerals, employment, export-import scenario of ores and minerals and other developments during the period. SUPPLEMENTARY INFORMATION: The online version contains supplementary material available at 10.1007/s13563-021-00263-6. Springer Berlin Heidelberg 2021-04-20 2021 /pmc/articles/PMC8056098/ http://dx.doi.org/10.1007/s13563-021-00263-6 Text en © The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature 2021 This article is made available via the PMC Open Access Subset for unrestricted research re-use and secondary analysis in any form or by any means with acknowledgement of the original source. These permissions are granted for the duration of the World Health Organization (WHO) declaration of COVID-19 as a global pandemic.
spellingShingle Report
Jain, Pradeep Kumar
Impact of lockdown on the mining industry in India
title Impact of lockdown on the mining industry in India
title_full Impact of lockdown on the mining industry in India
title_fullStr Impact of lockdown on the mining industry in India
title_full_unstemmed Impact of lockdown on the mining industry in India
title_short Impact of lockdown on the mining industry in India
title_sort impact of lockdown on the mining industry in india
topic Report
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8056098/
http://dx.doi.org/10.1007/s13563-021-00263-6
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