India is one of the countries of the Gondwanaland, a supercontinent that formed about 300 million years ago and included present-day South America, Africa, Antarctica, Australia, and India. Despite India’s rich geological history and mineral resources, the mining industry in India contributes relatively little to the country’s Gross Domestic Product (GDP) in percentage terms.
One reason for this is that the mining industry in India is relatively small compared to other sectors of the economy, such as manufacturing and services. The mining sector accounts for only about 2% of India’s GDP, while the manufacturing sector accounts for around 15% and the services sector accounts for around 58%.
Another reason for the low contribution of the mining industry to India’s GDP is that the sector is plagued by a number of challenges and constraints, including outdated technology, inadequate infrastructure, and regulatory barriers. These challenges have hindered the growth and development of the mining industry in India and have limited its contribution to the economy.
Overall, despite India’s rich mineral resources and geological history, the mining industry in the country contributes relatively little to GDP in percentage terms due to its small size and the challenges and constraints it faces.