Mining Sector Shines: India Records Impressive Growth in Mineral Production - Find Out the Key Minerals Fuelling the Success
/https%3A%2F%2Fblog.ofbusiness.com%2Fwp-content%2Fuploads%2F2023%2F05%2F44-min.jpg)
India’s mining and quarrying sector showed growth in February 2023, according to the latest data from the Ministry of Mines. The sector recorded a 3.9% year-on-year growth in February 2023, the highest since November 2019. This was driven by increased activity in the segments such as iron ore, limestone, and bauxite. The growth reflects that the Indian mining sector is on track for recovery following a period of slowdown due to low commodity prices and the coronavirus pandemic.
In this article, we will discover what contributed to the progress and how much.
Significant Increase In Mineral Production Index
The mineral production index reached 129.0, marking a 4.6% increase compared to February 2022. According to provisional data from the Indian Bureau of Mines (IBM), the cumulative growth for April-February 2022-23 surpassed the corresponding period of the previous year by 5.7%. This impressive growth can be attributed to the increased production levels of several essential minerals.
Major Minerals Show Promising Growth
The following are the critical mineral production levels as of February 2023:
- Petroleum (Crude)- 22 lakh tons
- Lignite- 41 lakh tons
- Natural gas (Utilised)– 2595 million cu. m.
- Bauxite– 1995 thousand tons
- Chromite- 330 thousand tons
- Copper Concentrate– 9 thousand tons
- Gold– 9 kg
- Iron ore– 245 lakh tons
- Lead concentrate– 31 thousand tons
- Manganese ore– 278 thousand tons
- Zinc concentrate– 144 thousand tons
- Limestone– 336 lakh tonnes
Several vital minerals displayed growth in February 2023 compared to 2022. These include:
- Phosphorite– 60.2%
- Coal- 8.3%
- Iron Ore- 7.4%
- Lead Concentrate- 7.3%
- Natural Gas- 3.2%
- Zinc concentrate- 1.1%
- Limestone– 0.9%
- Copper Concentrate- 0.5%
OFB’s Insight
The significant growth in the production of essential minerals indicates a promising future for India’s mining and quarrying sector. This positive trend is expected to continue, contributing to the country’s economic development and providing numerous opportunities for employment and investment in the industry.
Read More – India’s Coal Consumption Skyrockets In 2023: These Ports Are Leading The Way
For real time commodity prices, latest news, and insights, please download the all NEW and all FREE OfBusiness APP.
Suggested Readings
/https%3A%2F%2Fblog.ofbusiness.com%2Fwp-content%2Fuploads%2F2026%2F07%2FTemplate-OFb-34.png)
WPI June 2026: What Rising Metal & Chemical Costs Mean
TL;DR: India’s wholesale prices rose 9.87% in June 2026, the fastest pace this year. Metals, chemicals and fuel costs led the increase. If you buy steel, chemicals, or other industrial inputs, this is a good month to lock in pricing and lead times before costs climb further. This guide breaks down which categories are driving
/https%3A%2F%2Fblog.ofbusiness.com%2Fwp-content%2Fuploads%2F2026%2F08%2FTemplate-OFb-42.png)
Sugar Price in India Record High: Why Sugar Prices Are Rising in 2026?
TL;DR: India’s sugar prices have jumped sharply since June 2026 as stocks ran thin ahead of the new season. The government banned exports and has now allowed emergency imports to cool the market. This piece breaks down what changed, what it means for bulk buyers, and how to plan procurement through the price swing. Sugar
/https%3A%2F%2Fblog.ofbusiness.com%2Fwp-content%2Fuploads%2F2026%2F07%2FTemplate-OFb-31.png)
India Steel Sector Growth Q1 FY 2026-27: Production, Prices, Procurement
TL;DR: India Steel Sector grew steadily in Q1 FY 2026-27, with higher production, consumption and imports of finished steel. Prices softened slightly in June across TMT bars, HR coils and other steel products, though they remain higher than last year. This report helps construction and manufacturing buyers plan bulk purchases, track price trends, and source
/https%3A%2F%2Fd5nfy7n2jvqm2.cloudfront.net%2Fnew-buyer-imgs%2Fcookie.png){kind=small}