Bangalore, Dec 03: Groww Mutual Fund has announced the launch of a passive investment scheme – the Groww Nifty Metal ETF. The scheme aims to replicate the performance of the Nifty Metal Index – Total Return Index (TRI), providing investors an opportunity to participate in India’s growing and evolving metals and mining ecosystem through a rules-based, transparent, and low-cost passive route.
Groww Nifty Metal ETF: Seeks to replicate the Nifty Metal Index by investing in its underlying constituents in the same proportion, subject to tracking error.
This scheme aims to offer investors convenient access to India’s listed metal and mining companies – including producers of steel, aluminium, copper, zinc, and iron ore – that play a key role in supporting the country’s infrastructure and industrial development.
India’s metal story
India’s vision to become a US $5 trillion economy by 20271 is being driven by large-scale investments in infrastructure, manufacturing, and clean-energy initiatives – all of which are fueling greater demand for metals.
India’s construction market is at US $0.74 trillion in 2025 and is expected to reach about US $1 trillion by 20302. This expansion aims to support increased demand for steel, aluminium, copper, and zinc across housing, transport, and industrial projects.
India has also established itself among the world’s leading metal producers – ranking second in crude steel and aluminium, fourth in iron ore, and third in lime reflecting its growing
self-reliance and global relevance in core industrial materials3.
Over the past years, production has expanded across key segments: finished-steel production has reached nearly 145 million tonnes in FY25 broadly matching domestic consumption of 150
million tonnes and the share of building and infrastructure construction in overall steel consumption is 60-65% today, iron ore output has increased from 129 million tonnes in FY15 to 289 million tonnes in FY25, and coal production rose 7.25% in the last 5 years, supporting the power generation required for metal manufacturing and processing.4