Income and Employment Generation through Mining Industry in India

H M, CHANNABASAVAIAH and G, PROF.VENKATA NAIDU (2021): Income and Employment Generation through Mining Industry in India. Published in: Mukt Shabd Journal , Vol. X, No. VI (June 2021): pp. 780-789.

Abstract

India is well endowed with natural resources, particularly minerals, which serve as raw material for many industries, paving a path for rapid industrialization and infrastructural development. This, in turn, will facilitate the economy’s ascent to a path of sustained growth and a five trillion dollar economy. Mining is an important economic activity in India. India is one of the largest exporters of iron ore, chromite, bauxite, mica and manganese, and it is ranked fifth among the mineral-producing countries in terms of volume of production. The mining sector contributes nearly 2.4 per cent to India’s GDP. While there has been private sector participation in mining, the government through its various public-sector companies continues to be the largest participant in the domestic mining industry.

Much of India’s potential mineral resources are yet to be fully explored. Earlier, government policies and legislation had largely focused on regulation of mines and minerals rather than on exploration and development. Taking cognisance of the stagnation of the mineral industry, various reforms have been initiated by the Indian government allowing for greater private sector participation in mineral exploration, mine development and maintenance. The present study throws a light on mineral production, value and share of states in value of mineral production, contribution of mining to the Indian GDP and average daily labour employed in manganese and iron ore sectors in India.

• Item Type: MPRA Paper
• Language: English
• Keywords: Mining, Manganese and Iron ore, Production, Labour employed and GDP.
• Subjects: H - Public Economics > H2 - Taxation, Subsidies, and Revenue > H27 - Other Sources of Revenue; J - Labor and Demographic Economics > J3 - Wages, Compensation, and Labor Costs > J31 - Wage Level and Structure ; Wage Differentials; L - Industrial Organization > L7 - Industry Studies: Primary Products and Construction > L72 - Mining, Extraction, and Refining: Other Nonrenewable Resources

References

1. Indian Mineral Industry at a Glance, various issues. 2. Government of India, Ministry of Mines, Annual Report - 2018-19. 3. IBM Annual Report various issues. 4. Ministry of mines, mineral and mining industry in India January, 2020. 5. World mineral production data compiled from World Mineral Production, 2012-2017; British Geological Survey.