Minister of Mines & Steel Narendra Singh Tomar stated that planned development of Mineral Sector in India is need of the hour, while addressing the delegates in Assocham India Mining Summit, held at New Delhi today. He further added, “Present government is working in a planned manner to this end and several path-breaking changes have been made in the mining sector in last one year. If we look at the statistics of mineral sector in India, we will realize the immense potential in this area. Be it from the view of employment generation or contribution to GDP, mining is an important sector. Prime Minister Khanij Kshetr Kalyan Yojna and District Mineral Foundation will go a long way in providing a permanent, sustainable solution to problems of tribals and poor people living in mine and forest areas.”
Shri Tomar explained in details how the moribund mining sector has been revived and put back on growth path as a result of initiatives taken since May’2014. This would help mineral-based industries and give a boost to manufacturing and make in India. The Minister said, “ Iron ore production in the country was 8 million tonnes in September 2014, which went up to 12.5 million tonnes in March’2015, as a result of various initiatives. MMDR 2015 has been widely acclaimed as a revolutionary decision and not just an ordinary reform. One big shortcoming in our mining sector has been very small scale of exploration. A country with similar geological profile as ours, Australia has accomplished 100 % regional exploration, whereas India has done only 10 %, and detailed exploration has been done only of around 10 % of the latter.
To overcome this, we have established National Mineral Exploration Trust. In addition to GSI and MECL, other public sector undertakings have been authorized by notification, to carry out exploration. For holistic development of any sector, all stakeholders need to work together. Same holds true for mining sector. To achieve our common goal of sustainable and inclusive growth, government, planners, policymakers, mining industry, technology suppliers, service providers and communities will have to work together.”