Publication Date: 2021/04/22
Abstract: The wellbeing of a nation's economy is very much dependent upon the Mining Sector. When we look upon the situation of the National Economy, we see the mining industry as a significant contributor, despite which it is one of the most ignored sectors. Still, the role and the contribution of this sector varies and differs significantly in impacting the country's economy with a significant dependence on the underdeveloped or still developing resource and the government policies of the nation. For any industry to develop, vast amounts of natural resources are required, most of which are fulfilled by the Mining Industry. However, because of the lack of reforms and proper production techniques and technologies, the Industry is yet to bloom at its peak. In the present paper, the authors try to elucidate the actual impact of the mining sector and highlight some of the most overlooked problems, like productivity and comparative advantage with a focus on consequences of mining, and its felt impacts in one of Asia's transitional economy; 'India' through the economy point of view. Which, if corrected, may exponentially increase the productivity and total output of the Mining Sector. The diverse and varying character of the mining sector is opening up new and engaging opportunities for investment, technological assistance and knowledge sharing, from the foreign powers.
Keywords: Economics, Geoscience, Geo-Economics, Mining, Mineral Sector
DOI: No DOI Available
PDF: https://ijirst.demo4.arinfotech.co/assets/upload/files/IJISRT21APR258.pdf
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