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The Mining industry in India is a major economic activity which contributes significantly to the economy of IndiaThe GDP contribution of the mining industry varies from 22% to 25% only but going by the GDP of the total industrial sector it contributes around 10% to 11% Even mining done on small scale contributes 6% to the entire cost of mineral production
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With increasing demand for minerals and mining services, India is among the fastest-growing economies in the region Additionally, government efforts to consolidate coal mining companies are expected to open growth avenues in the near future
Government to sell 3% stake in Coal India, floor price at Rs 266 a share Oct 30, 2018, 06:32 PM IST If the entire 9 per cent stake in Coal India Ltd (CIL) could be sold off, then it could fetch the government about Rs 15,000 crore
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In India, 80% of mining is in coal and the balance 20% in other minerals, totaling 89 Mining equipment has evolved into some of the most fascinating functional mechanical structures known to man Today while the worldwide market for mining equipment is around US $ 100 Billion, India’s market is only around US $ 1 Billion (or 1 %)
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India has vast mineral potential with mining leases granted for longer durations of 20 to 30 years India produces 95 minerals– 4 fuel-related minerals, 10 metallic minerals, 23 non-metallic minerals, 3 atomic minerals and 55 minor minerals (including building and other minerals)
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