Mines Secretary Alok Tandon said that iron ore production of India surged to 143 million tonnes (MT) in the first seven months (April to October) of the ongoing fiscal (2021-2022), around 50% higher than the production of 95.5 million tonnes in the corresponding year. It added that the country is all set to surpass the record production of 246 MT achieved in 2019-20. He also said the production of another key mineral, bauxite, has also witnessed a year-on-year increase in the April-October period of 2021-22.
India is a leading producer of minerals such as iron ore, zinc and bauxite that are considered to be critical for rapid industrial development. Yet the mining and quarrying sector contributes to about two per cent of the country's GDP. Stating that the results of policy changes cannot be seen fully in a short span of time, he said, some early trends pertaining to mineral production are encouraging.
The government has taken several measures, including legislative actions, to propel competitiveness in this sector and with the aim to increase its contribution to the national economy. Besides, several measures have been directed towards the welfare of the people living around the mining areas and sustainability of the environment.
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