Deloitte India, ICC Call for More Transparent Mineral Markets

India’s mining and metals sector is entering a period of significant transformation, driven by rising demand from infrastructure, manufacturing, clean energy and strategic industries. As the country advances towards its Viksit Bharat 2047 vision, strengthening market transparency, improving price discovery and enabling more efficient allocation of mineral resources will be critical to building a competitive and resilient mineral ecosystem, according to a joint report by Deloitte India and the Indian Chamber of Commerce (ICC), titled Mineral exchange: The pathway to an efficient and transparent mineral market.

Over the past decade, reforms in the mining sector have sought to improve transparency, encourage private participation and accelerate resource development. However, mineral markets continue to operate through a combination of auctions, long-term contracts and captive consumption structures. This has resulted in varied pricing mechanisms and fragmented market signals, highlighting the need for greater transparency and consistency across the value chain.

The report examines the potential for stronger market infrastructure to address these gaps and support a more efficient mineral economy. Greater transparency in pricing, standardised contracts, independent quality assurance and reliable transaction mechanisms could improve market confidence and enable participants to make more informed procurement, investment and production decisions.

The report highlights that the development of efficient mineral markets could have implications beyond price discovery. Improved market intelligence and domestic benchmark prices can strengthen decision-making, while greater standardisation and quality assurance can help reduce information asymmetry between buyers and sellers.

The study also underscores the importance of credible governance, regulatory oversight, stakeholder participation and robust market infrastructure in creating an environment that can support wider participation and efficient resource allocation.

With mineral demand expected to remain closely linked to India’s infrastructure and industrial growth, the report notes that strengthening the country’s market ecosystem can help create greater predictability for businesses while supporting the broader objectives of economic growth, investment and resource security.