India has a lot of mineral resources and metallurgy know-how. It makes 95 minerals, 10 of which are metals and 23 of which are not. India is one of the top five nations that make the most bauxite, iron, and zinc ores. India is the second-largest manufacturer of crude steel among industrial metals, even though its share of the world market is only 5.6%. It is also the fourth-largest producer of primary aluminium, refined lead, and zinc (slab).
SRG Group is the best coal trading company and one of the top iron ore importers and the best coke importers in India. On the other hand, it imports a net amount of bauxite, lead, zinc, apatite, manganese, copper, rock phosphate, and metals and their alloys, including lead, zinc, copper, iron, and aluminium. India has a large number of mineral resources and reserves, but investors haven't been able to fully explore and mine these resources because of barriers.
India has enough bauxite, iron ore, and zinc ore to meet its own needs, but it needs to import magnesite, manganese ore, copper ore, lead ore, and rock phosphate to meet its own needs.
Minerals, metals, and metal products that are brought into India are charged customs duties. Minerals are usually less protected than the finished products that come from them. For example, the most-favoured-nation (MFN) import duty on bauxite is 2.5%, while the duties on aluminium metal and its products range from 3.9% to 9.8%. In the case of iron and steel, the MFN import duty rate on iron ore is 2.5%, while iron metal and steel are protected between 7.5% and 10%. But limestone is protected at a higher rate of 5% than its end product, cement, which is only protected at a rate of 3.2%.
Therefore, countries that are rich in minerals and are aiming to attract investment must have geological information that is of high quality and detailed. This type of information is beneficial to the general public and has the potential to make mining and prospecting activities more productive.
No country can produce all of the raw materials it needs on its own. In the financial year 2021, India's exports of base metals and the goods made from those metals had a total value that was led by the value of its exports of iron and steel products.
Ferro alloys were the 129th most traded item in the world in 2021, with a total trade value of $27.7B. In 2020, Indonesia ($4.06B), South Africa ($2.7B), Brazil ($2.74B), Kazakhstan ($1.67B), and India ($1.51B) were the countries that exported more Ferro alloys than they imported.
SRG Group is a well-known Ferro alloys trader, Ferro alloys exporter, and the best coal importer. If you are looking for a manganese ore trading company, then we are the one!