RAPAPORT... India’s Ministry of Mines is preparing a detailed strategic plan to tap the country’s minerals sector. The program titled, “Unlocking the Potential of the Indian Minerals Sector,” aims to align the ministry more directly with the National Mineral Policy.
According to a government statement, the strategic plan has identified that the India’s minerals sector holds a great potential for all stakeholders, including the central government, state government, community and the entire economy.
With the right kind of support, the mining sector has the potential to significantly contribute to the gross domestic product (GDP) as well as improve the revenues of royalty and taxes, it said.
The strategic plan has identified the six priorities to achieve the objectives. These include expanding the country’s resource and reserve base by stepping up exploration and aiding international acquisition of strategic minerals, reducing permit delays to create a more favorable policy environment, setting up core enablers for mining such as infrastructure, human capital and technology, ensuring sustainable mining and development, creating an information, education and communication plan and establishing the right governance structure for effective implementation.