Mining Equipment, Technology Services Set to Become Major Growth Market in India: Tushar Chakraborty

• METS poised for $6.8-8.3 billion opportunity, with the sector expected to generate over 20 million jobs by 2030.

• Coal, iron ore and critical minerals drive demand, with rising production, mine auctions and Odisha’s strong mineral base creating opportunities for equipment and technology firms.

• Rising mining capex to boost financing demand, including an estimated ₹41,600 crore investment in coal and strong growth expected in limestone and other mineral segments.

India’s mining equipment, technology and services (METS) sector is emerging as a major growth opportunity, driven by rising mineral production, large-scale investments, increasing mine auctions and the growing adoption of digital technologies, said Tushar Chakraborty, Executive Director, Deloitte.

Speaking at a masterclass on “Accessing Finance for Mining, Equipment and Fleet” at the Outlook MSME Growth Conclave – Odisha 2026, Chakraborty said the sector could generate more than 20 million jobs by 2030, highlighting its significant economic and employment potential.

He said the overall investment opportunity in the METS sector could reach $6.8 billion-$8.3 billion, making mining equipment, technology and services an increasingly important market for businesses.

“Mining equipment, mining equipment technology services itself is going to be a very big market as we see, and the way things are moving, especially in our country, we believe that METS is going to be the next important topic for all of us to look at,” Chakraborty said.

According to Chakraborty, the opportunity is not limited to conventional mining equipment. The sector is witnessing a shift towards digital technologies, with technology increasingly becoming integrated into mining operations and equipment.

He pointed to Australia, where more than 40 METS-led organisations are already working with Indian companies, as an indication of the growing international interest in India's mining ecosystem.

Chakraborty said India's mining sector is undergoing significant expansion, with coal production having crossed 1 billion tonnes. Coal India alone accounts for more than 800 million tonnes of production, while Odisha contributes more than 30% of the country's coal output, he said.

The expansion of commercial coal auctions is also creating opportunities for mining-related businesses. He said around 136 coal mines had been auctioned by December 2025, with two additional rounds held subsequently.

The ferrous minerals segment is similarly expanding. India produced around 289 million tonnes of ferrous minerals in FY25, with production crossing 300 million tonnes in FY26 and expected to rise to around 450 million tonnes in the coming years, Chakraborty said.

He added that more than 40 iron ore blocks were auctioned in FY26, while copper production is growing at a compound annual growth rate of 12.6%.