We need to double the Production of Minerals in the next few years to reduce import Dependency by Allocating & Regulating Minerals in a Transparent & Sustainable Manner

No. PR- 064

July 28, 2021

New Delhi

 

 

We need to double the Production of Minerals in the next few years to reduce import Dependency by Allocating & Regulating Minerals in a Transparent & Sustainable Manner

 

We need to balance economic development sustainably and, we need to diversify our energy basket. We need to double the production of minerals in the next few years to reduce import dependency by allocating and regulating minerals transparently and sustainably. Some of the goals of the ministry are incentivizing exploration via private sector participation; ensure zero waste mining and, encouraging sustainable mining. The Ministry of Coal and Mines has the vision of a modern, sustainable, competitive coal sector enabling accelerated coal production ensuring energy security and economic growth, mentioned Ms. Nirupama Kotru, IRS, Joint Secretary & FA, Ministries of Coal & Mines, Government of India in Virtual Odisha Mining Summit organized by PHD Chamber of Commerce and Industry (PHDCCI). 

Ms. Nirupama Kotru opined that we need to reduce demand-supply imbalance and import dependence; modernize and upgrade technology to improve sustainability at the same time provide ease of doing business and leverage social and environmental responsibility plans. She lauded the diligent efforts of the industry in making the mining sector grow and prosper even during the times of the pandemic and continues to drive the country in the times to come. 

Mr. V R Sharma, Managing Director, Jindal Steel & Power Ltd discussed the ease of doing business available in Odisha but the need for more reforms that will help to sustain the industry for the long run. 

Mr. Ritabrata Ghosh, Assistant Vice President, and Sector Head, Corporate Sector Ratings, ICRA Limited in his presentation on Mining Industry in Odisha ‘mine’- blowing possibilities, deliberated upon the role of the mining industry in powering Odisha’s economic development; mineralogical map of Odisha; key reforms implemented by central government and the government of Odisha in the mining sector and many more. He emphasized that focusing on infrastructure can lead to growth to accelerate demand; coal gasification will be the new growth driver for the mining sector and, Odisha will emerge as a hub for the export of coal by commercial miners. 

Mr. Vijay Jhanwar, Managing Director, Vraj Metaliks Pvt Ltd mentioned that there is a need to increase the production of iron ore, improving the bidding methodologies, and support merchant mining. 

Mr. Pradeep Multani, Sr Vice President, PHDCCI deliberated about the rich mineral resources in Odisha, and the availability of huge minerals reserves has opened up immense possibilities for locating mineral-based industries in the State for the manufacture of Steel, Ferro-alloys, Cement, Alumina/ Aluminum, Refractories, Thermal Power, etc., along with setting up other auxiliary and ancillary downstream industries. He also lauded the efforts undertaken by the Government of India and Odisha for improving the Ease of Doing Business in this sector and more reforms desired by the industry.

Mr. Anil K. Chaudhary, Chairman, Minerals & Metals Committee, PHDCCI talking about the importance of Odisha for the mining sector in terms of procuring the iron ore mentioned that there is an increase in the export of iron ore in the country but, there is a lack of raw materials. He suggested that there is a need to increase production, start early production of newly auctioned mining blocks, and improve the infrastructure and transportation. 

Mr. Naveen Jindal, Co-Chairman, Minerals & Metals Committee, PHDCCI while proposing the formal vote of thanks to all the delegates and participants mentioned Odisha offers immense possibilities for locating mineral-based industries for manufacture of Steel, Ferro-alloys, Cement, Alumina/ Aluminum, Refractories, Thermal Power, etc., along with setting up other auxiliary and ancillary downstream industries. With the announcement of reforms in the mining sector, India is expected to embark on rapid growth in the Coal, Steel, and Mining sectors and also achieve self-reliance in the years to come. Odisha will indeed be one of the major contributors to Atma Nirbharta in this sector in times to come.

The inaugural session was moderated by Dr. Yogesh Srivastav, Assistant Secretary-General, PHDCCI, and was attended by many industry stalwarts across the nation. PHDCCI’s webinar was supported by JSPL,  DLF India; Multani Pharmaceuticals; UFLEX; JK Tyre & Industries; Marble City; Paramount Cables; SMC Investments and Advisors; Blossom Kochhar Aroma Magic; Comtech Interio; DCM Shriram Industries; Radico Khaitan; R.E. Rogers India; Ajit Industries; Synergy Environics; Timberworkz; Jindal Stainless; P S Bedi & Co; IFFCO and Hindware. ICRA was the Knowledge Partner.

End 

Media Division

PHD Chamber of Commerce and Industry