India is a mineral rich country. It has a vast geological potential of over 20,000 known mineral deposits and is amongst the leading countries in the production of key minerals such as coal, iron ore, chromite, bauxite etc. Other than petroleum, the country is largely self sufficient in most minerals. The total mineral potential area in India covers 5.75 lakh sq.kms, of which only 75, 000 sq.kms. area has been explored in details so far, thus  leaving a huge scope for prospecting and exploration.

Indian economy has emerged as one of the fastest growing economies globally with average annual economic growth rate hovering around 8-9% in last five years. The accelerated growth rate of the Indian economy necessitates rapid development of the mining sector, on which most of the basic industries depend. In this scenario, mining is going to play a pivotal role in meeting the ever increasing demand of minerals and metals to sustain high growth rate. However, extraction of minerals is not without the environmental, social, economic and other footprints. The challenge is to integrate into the conventional business practices, the concern for environmental preservation, social integration and effective governance system for sustainable development of the mining industry. This necessitates inculcation and implementation of the global best practices in terms of technology as well as proactive management of environmental and socio-economic issues in the mining activities, including sustained livelihood opportunities for the members of the surrounding community.

FIMI-Sustainable Mining Initiative (SMI) is established precisely to address the above issues of sustainability in the Indian mining sector. The overarching goal is to maximize the contribution of the minerals sector to the cause of sustainable development in mining regions and the country. It aims at addressing environmental sustainability and social responsibility issues through implementation of sustainable business practices and keep striving to develop "next practices".