Minerals have immense contribution in Indian economy. We cannot imagine even our day to day life without minerals.

Significance of minerals in the Indian economy can be explained as follows:

1. Minerals supply raw materials to key industries like iron and steel industry, automobile industry, pharmaceuticals industry, paint, tanneries, chemicals, etc. 

2. Coal and petroleum are the important fuels, and industry cannot function without fuels. Coal is the main fuel being used in industries. Coal is primarily used in thermal power plants and in iron and steel industry. In fact, coal is so important for industry that it is called the mother of industries. 

3. Iron ore is essential for almost all industries because iron is an integral component for all the machines and tools. Moreover, iron is used in making large buildings and factories. 

4. Iron is also important for making farm equipment’s. 

5. Other metals are also useful for making various products and hence minerals of these metals are important. 

6. By promoting industries minerals help in employment generation. Many minerals earn valuable amount of foreign exchange through export.