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A conference on ‘Ease of Doing Business in Mining in India’ hosted by a Delhi-based research consultancy Metalogic PMS was organised here at Hotel Vivanta on Tuesday.
Mining Industry Stalwarts gathered at Metalogic’s Ease of Doing Business event
Gracing the occasion, Shri AT Mishra, IFS, Dy. Director General – Forests, Ministry of Environment, Forest & Climate Change said, “India is a developing country and can utilize mineral resources with enormous scope towards economic growth and increase GDP contribution. The mining sector helps in generating direct and indirect employment. The Government of India is committed to making improvements with various regulations formed for creating an atmosphere for ease of doing the mining business in India.”
He further added, “It is primarily the responsibility of the miners to scrutinize plans holistically so that all the challenges faced can be addressed appropriately. Sustainable mining should be mapped out in a manner that would benefit the industry and the nation as a whole and would mitigate the adverse impact of mining.”
The rising contribution of Women, Transgender & Specially Abled in core mining activities
Attending the mega conference, Shri Sumit Deb, CMD, NMDC Limited said “Ease of Doing Business in Mining can be achieved with an overall contribution of the State Government, Forest Department, and miners. There are various initiatives like Gati Shakti, Bharatmala, and National Infrastructure Pipeline to reduce the logistics cost and various regulatory frameworks by the Government of India to infuse a higher degree of competitiveness and to promote the sector.
“Though many initiatives are inclined to cumulative growth but to strengthen it further there is a need to address key issues like double royalty, single window clearances, and higher tax rates as it is a deterrent in attracting players.” He added that, “There is a need of incentivization to attract global participation and also urged all the stakeholders to push India to higher trajectory on the global level by higher investments.”
Conference on Ease of Doing Business In Mining in India | 21 Feb | Bhubaneswar, Odisha | LIVE
YouTube link: www.youtube.com/live/DFdwRRHSEQY?feature=share
NMDC – NISL made its market debut at BSE and hit the upper circuit as it entered trading.
Shri Sabyasachi Mohanty, Director Operations, OMC Limited who also took part in the conference, highlighted that India has the potential to reach to the 2nd largest economy by 2050. In this path, Eastern India will play a vital role in contributing 75 percent of incremental steel production. Odisha will be playing a vital role as around 50 percent of iron ore production will be generated from the corresponding state.
With this vision, OMC has geared up to achieve 100 MT by 2030 and prepared a roadmap to resolve the challenges of raw material shortage. He further added that there is a need for modernization in the sector which can be achieved by reducing manual intervention for sustainable mining.
Attending the mining conference, Mr. D.B. Sundara Ramam, Chairman, Tata Steel Mining and VP (Raw Material), Tata Steel highlighted the issues and challenges faced by the mining companies in India and stressed on the way forward.
Mr. Sundara Ramam focused on the area of exploration in mining sector and spoke on various concerns which need to be addressed.
During the second part of the conference, Mr. Pankaj Satija, Managing Director, Tata Steel Mining presented a detailed picture of the mining sector in India and spoke on different concerns of different mining companies and mining PSUs.
The mega mining conference was attended by several policy makers, government officials, miners, investors, steelmakers, and policymakers to discuss various challenges faced by the stakeholders of mining sector and how government can help in ease of doing business.
India is a mineral-blessed nation and produces around 95 minerals 4 fuel-related minerals, 10 metallic minerals, 23 non-metallic minerals, 3 atomic minerals, and 55 minor minerals (including building and other minerals). Therefore, the sector is expected to play a vital role in the country’s development in the future.
Metalogic’s research shared certain fact. It highlighted that the mining sector being one of the core industries, the sector’s contribution is less than 2% towards the country’s GDP against 7-8% contribution by other mineral-rich countries. However, the country holds the potential to raise the contribution of the mining sector by up to 5%.
“We have seen several state investors’ programs happening where lakhs and crores of MoUs are getting signed by the investors and at the time of actual execution only a handful of companies are really able to pull it off,” said Monica Bachchan, Founder & CEO of Metalogic PMS.
She added, “These conferences and several other similar forums become extremely important for the government and the stakeholders to examine the ground challenges and hindrances which stop the projects to take off.”
The conference commenced with the inaugural session chaired by the esteemed panellists – Sh. Kalyan Mohanty, ED Exec., IPICOL, Mr. Sabyasachi Mohanty, Director Technical and Operations, OMC Limited, Mr. D.B. Sundara Ramam, V.P Raw Material, Tata Steel Ltd., and Sh. Sumit Deb, CMD, NMDC Ltd.
The conference also discussed the rising contribution of “Women, Transgender & Specially Abled” in core mining activities. Metalogic PMS with the help of Tata Steel Mining organized a stage show to inspire miners to employ these special group of people in their various activities. This is the first time that a conference on mining witnessed such a huge participation of women in the country. Odisha Mining Corporation too joined the initiative to promote ‘Women in Mining’.
The conference discussed the urgent need to transform the untapped mineral potential of the country in a sustainable manner by ensuring the participation and interest of all the stakeholders in order to achieve ‘Atma Nirbhar Bharat’ and also to encourage all the stakeholders to join hands for an inclusive growth of the country as a whole.