India’s GDP Declines: Iron Ore Mining to Blame?

Mineweb reported India has experienced a steep decline in its GDP because of sudden and severe hurdles in the iron mining industry.

As quoted in the market news:

Mining in India has been losing ground over the past five years. Plunging mining output has lead to a fall in industrial production and GDP growth, with the Index for Industrial Production plummeting to -5% in October 2011. This is the first time it has gone into negative territory since March 2009.

Click here to read the full Mineweb report.