The Mineral Industry of India

Abstract

‘India on the rise’ was a headline at the Frankfurt Book Fair 2006, featuring India. Prime Minister Manmohan Singh set ambitious goals: 8–10 per cent annual growth continually, which can only be attained if the disastrous infrastructure and the electricity grid are thoroughly modernized. The government is planning to increase hard coal production from about 400 million tonnes to 2.5 billion tonnes and power generation capacity from 126 GW to 400 GW during the next 20 years. It is India's mineral industry that will play the essential role to provide the huge amounts of raw materials needed by many industrial sectors, government activities, and consumer driven demand. India's small hydrocarbon resources require intensified offshore exploration. The government clearly recognized that private capital and technology, domestic and foreign, is indispensable. Privatization is promoted, but faces resistance. Foreign investors must weigh restrictions and bureaucratic risks against chances of a 1 billion‐people market.