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What is the significance of the peninsular plateau for the economic development of India?

Answer
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Hint: Peninsular plateau is the largest and oldest physiographic division in India. The plateau is composed of three main things such as old crystalline, Igneous and metamorphic rocks. The Western Ghats and the Eastern Ghats form the edges of the peninsular plateau on either side.

Complete step by step answer:
The peninsular plateau rich with its natural endowments plays a vital role in the economic development of India. This tableland plays a critical role in the process of Indian economic development in the following ways:
1. The peninsular plateau is the home of India’s most valuable metal reserves including iron, bauxite, mica, gold, copper, etc. Famous mines like Kolar, Bailadila, Singhbum, and Korba are located in the peninsular plateau.
2. Coal mines are very important for the Industrial development of India and the peninsular plateau houses many premium coal mines of India. Famous mines like Ranighanj, Singareni, and Jharia are located in the peninsular plateau.
3. The Black soil and the climatic conditions in the peninsular plateau make it a great location for the cultivation of Cotton. Cotton plays a key role in the trade and economic development of India since antiquity.
4. Peninsular plateau with its rugged topography and slips is also home to many rivers that form ideal locations for the installation of hydroelectric projects which are key ingredients for the economic development of a region. Srisailam and Koyna projects are among the largest hydroelectric projects in India.
5. The Western and Eastern Ghats which form the edges of the peninsular plateau are very rich in flora and fauna. They are also home to valuable timber woods like Teak, Sandalwood, rosewood, etc. The Nilambur teak is a world-famous variety with a GI tag.
6. The topography blessed with hills, mountains, rivers provide great aesthetic value to the peninsular plateau. Famous tourist centers like Panchmarhi, Ooty, etc. are located on the plateau. Several pilgrimage centers add to the economic value of the peninsular plateau.
7. Mighty peninsular rivers like Narmada and Mahanadi are very rich sources of natural resources from fisheries to mineral deposits. Thus these rivers are drivers of economic development in India.

Note: The peninsular plateau is known for its large basaltic province called Deccan Trap that is one of the largest volcanic features on Earth. Deccan trap is vital for cotton cultivation in India. Lonar Lake, which was formed due to a meteoric hit on earth, is also located in the plateau.