NaukriHub-Job Search Site

Home

Jobs in Middle East

Jobs in Asia Pacific

Indian Industry

Scope Of Mining Sector

The mining and minerals industry provides an important support to the economy and is of strategic importance to every country. The mining sector in India has reached a high level of development but it still has a lot of unrealized potential. Owing to the use of outdated technology, Indian companies are at times unable to explore and exploit many reserves. The current mining technology and practices being used allow mining only to the depth of 300 meters, which means that 25% of the reserves of India still remain unexploited. There are opportunities for discoveries of sub-surface deposits with the application of modern techniques and processes.

With a view to encourage initiative and make the mining and minerals industry more competitive, the Government of India has opened up the sector to private players and foreign investment. It is also making efforts to boost the 'Research and Development' in the sector because there is a lot of untapped potential in India. Focusing on technology for future, India's numerous technology research institutes are working on energy related R&D.

Minerals and mining sector contributes significantly to the economic growth and development of India in the form of exports, raw material to other industries in the country and finally vast employment opportunities and a high rate of wages. The Indian mining industry currently employs over 1.1 million people and offers a wide range of opportunities to mining engineers in the public as well as private sector. The government offers a wide range of concessions to investors engaged in the mining activity. India is the world's largest producer of mica; third-largest producer of coal and lignite; and also ranks among the top producers of iron ore, bauxite, manganese ore and aluminum. The availability of cheap labour for the industry is a major attraction to the global players. India has around 20,000 known mineral deposits and the geological potential in this regard is very substantial. There are over 2,326 private and 292 public operating mines in India, and the minerals and metals from these mines contribute about 16 percent to India's total exports.

A high demand for mining engineers is found in the gulf countries like Saudi Arabia, Kuwait, UAE / Dubai, and specially Qatar. Gulf countries, collectively functioning, as members of OPEC, are the hubs of crude oil, petroleum and related products in the world and are reporting a spurt in the requirement of mining engineers. Therefore, a career in gulf countries is also a lucrative option for the students interested in taking mining as their career.

FUTURE OF THE SECTOR
Mining is an important part of every economy. In a world that is already facing shortages of some of the important minerals and metals like petroleum and coal, the demand for such products is only bound to increase with time. Meeting those demands will be a challenge for the mining and minerals industry worldwide. With the increasing efforts in R&D and technological innovations, the mining and minerals industry has developed huge Human resource requirements. There is already a shortage of skilled workforce throughout the world. Developments are taking place rapidly and many companies in this sector are expanding their operations and are working on new projects like the refinery being constructed by Reliance Industries Limited in Jamnagar. Also Bharat Petroleum is conducting R&D for value added products and alternate fuels. So to conclude, it can be said that mining and minerals sector has a bright future, be it in terms of employment or technology.

Indian Industry
Know the business of india with
detailed analysis
Click Here

HR Chronicle
Read the latest articles on

NaukriHub-Job Search Site

Jobs in India

Jobs in USA

Jobs in UK

Jobs in Middle East

Scope Of Mining Sector