India, a rich repository, saw imports of minerals, ores going up in FY17

The persistent rise in imports of some minerals and ores despite the country being a proven repository maybe a bad news for the 'Make in India' campaign

Mineral import rose sharply in 2016-17, with inward shipment of ores and minerals (Rs8.1 trillion) accounting for 31.4 per cent of the country’s total merchandise import.

A particular rise was seen in import of alumina (45.7 per cent), precious metal ores & concentrates (42.2 per cent), manganese ore (38 per cent) and bauxite (30.1 per cent). Even copper, where India is home to a third of the world’s estimated deposits, saw import at Rs183 billion in 2016-17.

Stakeholders point to the tepid scale of prospecting operations and exploration in the country. “To realise the vision of ‘Make in India’, we have to