India's Mining Sector Must Embrace Technology to Stay Competitive

The mining and metals sector in India needs to adopt technology and improve resource efficiency to remain competitive, according to a recent report by FICCI-KPMG.

The report, titled 'Mineral Extraction to Metals Production: India's Technology Pivot for Competitiveness', highlights the importance of technology adoption in the sector, which is facing challenges such as cost pressures, lower ore grades, geopolitical risks, and decarbonisation.

The report states that India's mining and metals industry is entering a key phase of growth, driven by domestic demand, infrastructure expansion, and government initiatives like Atmanirbhar Bharat and Viksit Bharat 2047. However, competitiveness will increasingly depend on how efficiently companies use existing resources and convert them into higher-value products.

The report calls for greater use of low-grade ores, slimes, tailings, scrap, and other underutilized materials as feedstock to improve resource efficiency and support circularity across the sector. It also emphasizes the need for sustained efforts and wider technology adoption to meet India's long-term development goals.

Ranjan Dhar, Co-Chair of FICCI Steel Committee, said that the industry needs to leverage available data to propel itself towards global standards of efficiency. The report also highlights growth targets in the sector, with steel capacity expected to reach 500 million tonnes by FY2047, aluminium production set to grow nearly seven-fold, and copper demand projected to more than double.