Due to its abundant reserves of iron ore, manganese ore, bauxite, chromium and other mineral salts as well as its huge deposits of coal, lead, zinc, silver and gold, India is a natural powerhouse and one of the premier destinations for the metals and mining industry. States with significant mining activities include Andhra Pradesh, Jharkhand, Odisha, Rajasthan, Karnataka, Madhya Pradesh and Maharashtra. India’s strategic location allows for the development of export potential as well as rapid growth in the Asian markets. It provides competitive advantages to end-use sectors like building and infrastructure, automotive and electricity by supplying them with crucial raw materials at affordable pricing.
The industry has the potential to have a significant impact on GDP growth, foreign exchange earnings, etc. It is therefore a fully-fledged government-backed industry that supports India’s entire infrastructure and development sector. Furthermore, Indian Steel Association, Aluminium Association of India, India Stainless Steel Development Association, Coal Consumers Association of India and Federation of Indian Mineral Industries are some of the organisations that assist to cater the needs of the industry and deal with related activities.
Market Size
The global metal market expanded from USD 3,940 billion in 2022 to USD 4,230 billion in 2023 at a compound annual growth rate (CAGR) of 7.4 per cent. The metal market is expected to grow to USD 5,500 billion in 2027 at a CAGR of 6.6 per cent. In 2021, the global steel market was estimated to be worth USD 1,307 billion. The steel industry is expected to grow at a compound annual growth rate (CAGR) of 3.47 per cent from USD 1,353 billion in 2022 to USD 1,718 billion by 2030. Among metals, steel has historically held a dominant position.
この記事は Dalal Street Investment Journal の March 13, 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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この記事は Dalal Street Investment Journal の March 13, 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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