ALTIOS Australia: your trusted advisor in navigating India's complex mining sector
February 2024
With a team of 270+ India-based experts, ALTIOS International stands as a trusted advisor who can help you navigate India’s burgeoning mining sector and reap the many benefits of.
India boasts the production of nearly 95 minerals across fuel, metallic, non-metallic, and minor categories and holds a significant position in the global mining landscape. This, coupled with the recently established Free Trade Agreement between India and Australia paves the way for a host of opportunities.
ALTIOS Australia has been a proud member of Austmine for 5 years, – Australia’s leading association in the global mining industry.
Most recently, ALTIOS was privileged to take part in Austmine’s first training program of the year 2024: “Australian METS India Growth Program”. This provided the most innovative businesses in the Australian METS sector with a detailed introduction to the Indian Mining Market and an overview of the key networks and events in the industry.
ALTIOS’s experts delivered insights on:
- Successful Market Entry Strategies for India
- How to do business in the Indian business environment (clue: it is not a single market)
- Step-by-step overview of the export plan essentials and the considerations in the Indian market
- Advice on how to refine a marketing and value proposition, and Pitch Preparation
”India’s markets are exciting and growing and we find more companies asking us how to best enter and succeed in India. Having helped 100s of companies from all types of industry including many machinery manufacturers for mining and associated industries, we know that preparation is key to success. Understanding your market potential and the best way for you to tap it can help you save a lot of time and money down the line” says our Head of Advisory in India Vipulansh Sharma. “One case study is the journey of Ammann in India: here is our MD interviewing their Director”
“The insights provided by ALTIOS have been critical to preparing our members for entry into the Indian market. This will no doubt lead to increased sales and business growth for the Australian METS sector, and will help participating companies manage the complexities and risks of operating in international markets.” Sheldon Varcoe, Manager – International Projects, Austmine.
Why India?
- One of the fastest-growing major economies
- Unprecedented opportunities for advanced technological tools and solutions.
- Socio-political and economic stability.
- Ever-increasing demand, and
- Favourable demographics.
The mining sector in India is a multifaceted contributor to the economy, accounting for 2.2% to 2.5% of the gross domestic product (GDP) and approximately 10% to 11% of the total industrial sector’s GDP.
More than just economic figures, the sector provides employment opportunities for approximately 700,000 individuals, further emphasizing its socio-economic significance.
The Metals and Mining sector in India is expected to witness a major reform in the next few years, owing to reforms such as Make in India Campaign, Smart Cities, Rural Electrification, and a focus on building renewable energy projects under the National Electricity Policy as well as the rise in infrastructure development.
A major segment or iron & steel industry is the segment of secondary producers which contributes more than 40% to the production of crude steel. The role of secondary steel sector in infrastructure development is immense.
As the third-largest energy-consuming nation globally, India’s perpetual demand for power and electricity drives a surge in the need for coal, a crucial component in meeting the energy requirements of the nation.
According to the Indian Brand Equity Foundation (IBEF), the mining sector is poised for substantial growth, with an expected compound annual growth rate (CAGR) of 7.5% from 2020 to 2025, reaching a staggering value of US$ 36.2 billion by 2025.
India’s claim as the world’s second-largest crude steel producer further solidifies its position in the global market. With the government’s intensified focus on infrastructural development, including the construction of roads, railways, airports, and more, the demand for steel is projected to grow by approximately 10%. India also holds a competitive edge in steel and alumina production and conversion costs, facilitated by its strategic location, which opens doors for export opportunities to fast-developing Asian markets.
Despite the sector’s significant strides, there exists substantial room for improvement. Acknowledging this, industry experts underscore the imperative for embracing technological advancements to unlock the industry’s full potential. For regular updates on India’s mining industry see our Indian subsidiaries updates here.
“The use of new technology and digitalisation is the need of the hour for the Indian steel and minerals industry to achieve its expansion targets and goals,” emphasizes industry experts.
As India navigates its mining landscape, the synergy between governmental initiatives and private sector innovation will be pivotal in shaping a sustainable and prosperous future for the nation’s mining sector.
Want to learn more?
Contact our team for more information on market entry strategies and insights on conducting business in India and fostering networking opportunities.
/ Daniela TOUZE, Business Development Manager, Australia email: d.touze@altios.com
/ Vipulansh Sharma, Head of Advisory, India email: v.sharma@mv-altios.com