Conference on Indian Mineral Reforms

The mining sector contributes about 3-4% of the GDP of the nation and have strategic importance with the sheer impact it can have on the overall GDP, foreign exchange earnings and its capacity to create a competitive leverage for other vital sectors such as power, construction, infrastructure, and consumer durables for securing their key raw materials at competitive rates. Indian Mining polices has largely been driven to ensure adequate checks and balances to prevent misuse of precious mineral deposits, reckless land acquisition and deforestation. 

Introduction of amendments in the MMDR Act has brought the mining industry under a transparent auction regime, with an objective to achieve full potential of the sector, revenue enhancement to the state, steeping up exploration & auction of resources and to increase in investment and employment, and resolving long pending issues that have slowed growth of the sector. Reform like establishing the District Mineral Foundation (DMF), creation National Mineral Exploration Trust, no differentiation between captive and non-captive mines Calculation of Average sale price, auction of concession for critical mineral, dispense with forest clearance for exploration will provide necessary impetus to Indian Mining Industry.

However, to make these reforms more productive for Mining Sector, we must bring down our imports and increase our domestic production by bringing substantial improvements in our mining practices and exploration activities.

To discuss issues pertaining to Indian mineral reforms in the country, ASSOCHAM is organising a Conference on ‘Indian Mineral Reforms: Steps toward Atmanirbhar Mining’ on 28th July 2022 in New Delhi at Hotel Le-Meridian.

The objective of the conference is to review the various reforms undertaken by the government to boost the mineral exploration in the coming decade and to enhance the investments for its exploration, with the strong focus on environmental sustainability & raw material security.