| In the 22nd India Economic Summit 2006(November26-28) the main issue of discussion has been India's growth and economic prosperity in recent time. Another major objective of this Summit was to find out the country's main weaknesses and priority areas.
The primary challenges of our nation as have been identified in the Summit are as follows:
Improved provisions of public services in the fields of education, health and infrastructure.
- To achieve an all round growth with diminishing inequality in income distribution, increasing employment opportunities, decreasing regional disparities and improved performance of agricultural sector.
- To attain sustained rate of growth by removing fiscal and trade deficits and bringing about reforms to remove the major obstacles to growth.
- Making public aware of the possible threats HIV/AIDS epidemic before hand.
Mining and mineral industries constitute the backbone for industrial expansion in India. The mining sector contributes substantially in the socio-economic prosperity of our country by supplying essential raw materials to the industries and power sector. Gifted with a wide range of minerals, India is one of the leading producers and exporters of several minerals in the world.
Mining Industry in India started its journey long back in 1774, when the East India Company permitted an English Company to undertake mining activity in the coalfield in Ranigang. Gold mining in Kolar Goldfields was started by M/s John Taylor & Sons Ltd in 1880. It was in the year 1866 that the first oil well in India was drilled in Digboi. Despite having such a glorious past, the Mining industry in India continued to be primitive in nature till the beginning of the current century.
It was only after independence that the mining sector in India experienced a phenomenal increase in growth rate. In total there are 84 minerals being produced in India including 4 fuel, 11 metallic, 49 non-metallic industrial and 20 minor minerals. The products of Indian mining sector consist of coal, lignite, limestone, iron ore, bauxite, copper, lead, zinc and many more contributed by over 3100 mines located all over the country. Productions from open cast mines account for more than 80 percent of the total mineral production in the country. So the quantity of minerals being excavated annually from the Indian mines can be determined by summing up the quantity of overburden with the annual mineral production.
Indian mining industry provides employment to over 1.1 million people with 16 percent share in India's export. India is the largest producer of mica in the world. It ranks third in the production of coal and lignite & barites. India is also one of the world's top producers of iron ore, bauxite, manganese ore and aluminum.
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