Mining critical for India’s growth, Govt support needed, say industry captains

| | Kolkata
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Mining critical for India’s growth, Govt support needed, say industry captains

Thursday, 17 November 2022 | PTI | Kolkata

The mineral and mining sector will be critical for India’s development agenda going forward as the country aims at a multi-fold growth in GDP, industry captains said on Wednesday.

The government has to incentivise, offer regulatory flexibility and deregulate critical mineral mining to boost the sector, CII National committee on mining chairman and Vedanta group CEO Sunil Duggal said.

Speaking at the IMME and Global Mining Summit 2022 here, Coal India Chairman Pramod Agrawal said India has to grow and the mining sector is “critical for the growth”.

“The government is aiming at doubling the sector’s contribution to GDP to five per cent by 2030 from 2-2.5 per cent now,” he said, while emphasising on productivity with sustainability, greater use of mechanisation and digitisation.

Duggal said the mining industry “needs incentives in exploration to attract new generation companies into this”.

He also called for a timeline for environmental and forest clearances in mining, and to resolve land acquisition issues, besides deregulation of mining of critical minerals.

Duggal claimed that the low exploration and mining has resulted in importing USD 86 billion in 2021, which will swell to USD 280 billion by 2030.

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