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India’s Mining Sector Could Add $500 Billion to Economy by 2047: Report

A joint report by Deloitte and the Indian Chamber of Commerce reveals India's mining sector has the potential to contribute an additional $500 billion to the economy by 2047. This growth could also generate nearly 25 million new jobs through adoption of advanced technologies and sustainable practices. The report highlights a shift towards a 'Mining 5.0' model driven by AI, advanced analytics, and connected systems. Policy reforms and the government's Atmanirbhar Bharat push are accelerating this transformation in the sector.

Key Points: India Mining Sector Can Add $500 Billion by 2047

  • Mining sector can add $500 billion to economy by 2047
  • Could create 25 million new jobs
  • Transition to Mining 5.0 with AI and digital twins
  • Policy reforms and Atmanirbhar Bharat driving transformation
2 min read

India's mining sector can add $500 billion to economy by 2047: Report

Report says India's mining sector can add $500 billion to economy, create 25 million jobs by 2047 through advanced tech and sustainable practices.

"The mining industry could play a major role in supporting India's ambition of becoming a $30 trillion economy by 2047 - Deloitte and ICC Report"

New Delhi, May 9

The mining industry of India has potential to contribute an additional $500 billion to the economy and generate nearly 25 million new jobs by 2047, provided the industry adopts advanced technologies and sustainable mining practices, a report has said.

The joint report by Deloitte and the Indian Chamber of Commerce (ICC) said that the nation's mining ecosystem is entering a major transformation phase as demand for minerals rises due to rapid infrastructure development, clean energy goals and manufacturing expansion.

It noted that the mining industry could play a major role in supporting India's ambition of becoming a $30 trillion economy by 2047.

At present, the sector contributes around 2-3 per cent directly to India's GDP while also supporting core industries such as steel, cement, automobiles, power and infrastructure.

The report highlighted that India's mining sector is gradually moving beyond the Mining 4.0 phase, which largely focused on automation and digitalisation, towards a more integrated 'Mining 5.0' model driven by artificial intelligence, advanced analytics, digital twins and connected operational systems.

It has described 'Mining 5.0' as a shift from conventional volume-based extraction to a more technology-enabled, sustainable and value-focused mining ecosystem.

Many Indian mining companies have already adopted isolated digital technologies, but a lack of integration across operations continues to remain a challenge, the report said.

However, it warned that fragmented digital adoption could limit the long-term value of such investments unless companies build unified and connected decision-making systems across planning, production, logistics, maintenance, safety and sustainability operations.

Meanwhile, policy reforms, rising demand for steel, the growing need for critical minerals and the government's Atmanirbhar Bharat push are accelerating transformation in the sector.

The report also identified technologies such as AI-powered predictive safety systems, autonomous mining operations, real-time monitoring platforms and hybrid cloud-edge digital infrastructure as key drivers of the future mining ecosystem in India.

- IANS

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Reader Comments

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Priya S
Finally, a report that acknowledges the potential of our mining sector! We've been importing so many minerals despite having rich reserves. The Mining 5.0 concept with AI and real-time monitoring is exactly what we need to compete globally. Atmanirbhar Bharat in mining will reduce our import dependence and boost Make in India. Hope the government fast-tracks policy reforms to make this a reality. 🇮🇳
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James A
Impressive projections for India's mining sector! The shift from volume-based extraction to value-focused mining is a smart move, especially with global demand for critical minerals rising. However, fragmented digital adoption is a real concern—I've seen similar challenges in other developing markets. India needs to invest heavily in integrated decision-making systems and workforce training to avoid wasted investments in isolated tech. Good luck!
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Kavya N
All this talk of billions and automation is exciting, but what about the human cost? Mining has historically displaced tribal communities and destroyed ecosystems in states like Odisha and Jharkhand. If we're moving to Mining 5.0, we must ensure that technology doesn't push out small-scale miners and that rehabilitation of affected families is handled with dignity. $500 billion is meaningless if our people suffer. 💔
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Michael C
As someone who follows global mining trends, I'm cautiously optimistic. India's demand for steel and critical minerals is undeniable, and AI-driven autonomous operations have worked well in Australia and Chile. But the fragmented digital adoption mentioned is a red flag—companies need to think beyond pilots to full-scale implementation. Also, don't forget the elephant in the room: cronyism and bureaucratic delays in mining licenses. Fix that first!
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