Authors :
Ananay Rajput; Abishanka Saha; Inayaa Gulati; Dr. Alok Kumar Singh
Volume/Issue :
Volume 6 - 2021, Issue 4 - April
Google Scholar :
http://bitly.ws/9nMw
Scribd :
https://bit.ly/3tIqVmI
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
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
