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This report profiles India’s metals and minerals industry, discussing market
trends and outlook through 2015 and beyond. The report also highlights leading
players in the sector including Hindalco Industries Ltd, Hindustan Zinc Ltd and
Hindustan Copper Ltd.
The Indian metals and minerals sector is one of the important constituents of
economic growth in India. The country has been a major global player in minerals
and metals in terms of manufacturing, consumption and trading in the last few
years. India is ranked amongst the world’s largest producers of aluminum and
zinc. The sector comprises mining, production and trading companies. The big
metals players dominate the industry and thus form a sort of oligopoly.
FY15 was a tough year for the sector despite an increase in production and
demand, primarily due to lower global commodity prices. The global situation for
metals and minerals was also adverse with spot prices of several metals going
south. The value of India’s mineral production saw a decline as a result of the
prevailing global situation. However, growth in demand brought some relief to
the sector. The index for production of basic metals recorded a steady growth,
while mining finally registered growth in 2015-16 after three successive years
The outlook for metals and mineral sector looks stable in the near-term because
of a demand uptick and decline in inflation. Low per capita metal consumption,
vast mineral resources and growing construction sector will act as drivers for
the sector in the long-term. Reforms and clearances in the mining sector will
further add to the growth of this sector.
• During FY09-13, the metallic minerals segment grew at a CAGR of 16%. However,
it recorded a steep y/y decline of 14% in FY14. It further declined by 1% y/y in
FY15. The non-metallic minerals segment grew at a CAGR of 18% during 2009-13,
but also saw a decline in FY14. However, it recorded a growth of 1% y/y in FY15.
• During 2008-13, domestic production capacity of aluminium grew at a CAGR of
7.4% while the actual production grew at a CAGR of 6.8%. Production saw a steep
decline in FY14; but revived in FY15 with a growth of 5% y/y.
• The index of industrial production (IIP) saw a decline of 0.1% in FY14. Basic
metals grew by only 0.3%, while mining declined by 0.8% y/y. However, the
industry saw a revival in FY15. Basic metals recorded a five-year high growth of
12% y/y, while mining finally registered growth after three successive years of
decline. Growth was also steady in 1HFY16, with mining growing by 2% y/y and
basic metals growing by 5% y/y.