Union Minister of Steel and Union Minister of Mines inaugurate two-day Conference on 'Indian Minerals & Metals Industry: Transition towards 2030 & Vision 2047'
August 23, 2022
NEW DELHI, 23 August 2022:
Mr Jyotiraditya M Scindia,
Union Minister of Civil Aviation and Steel, today called upon India's mines and mineral industry to
reduce carbon emission by 30-40 per cent by the year 2030 to enable
India make an impact globally for its growth, expansion and exports.
Addressing the two-day
conference 'Indian Minerals & Metals Industry: Transition Towards 2030
& Vision 2047', organized in New Delhi, by NMDC in association with
FICCI, the Minister emphasized that the industry will grow at the
rate of 7-8 per cent and is critical to streamline its production processes to
make India globally competitive and impactful particularly in view of emerging
global challenges.
The Minister asserted that we need to promote Made
in India. "While we look at branding through our companies, we must also look
at branding the mother brand 'Made in India' and that mother brand must be
associated with the highest quality of product," he added.
Mr Pralhad Joshi, Union Minister of Mines,
Coal and Parliamentary Affairs said, "Government has introduced a revenue sharing model as per
which 50 per cent rebate is entailed on revenue share on early production of
minerals." In 2021, MMDR Act was amended to allow auction for mining
lease of limestone, iron ore and bauxite blocks having deposits at G3
level of exploration instead of earlier mandated G2 level exploration. Further,
auction for composite license for all minerals allowed at G4 level of
exploration instead of earlier mandated G3 level exploration. A total 190
blocks of various major minerals have been successfully auctioned in the last 7
years. In present fiscal, the government has auctioned 36 mineral blocks
whereas in the last fiscal the total revenue accrued from auctioned mines is
more than Rs. 25,170 Cr. The mineral and metals industry will need to adopt
sustainable ways and in order to bring sustainability, it is imperative for the
Indian mineral and metals sector to adopt best practices available
globally for increasing productivity and efficiency, he added.
Mr Sumit
Deb, Chairman-Cum-Managing Director, NMDC Ltd in his remarks said that the vision of
NMDC reverberates with the vision of National Steel policy as it aims to
augment annual production capacity of iron-ore to 67M tons by 2025 and 100M
tons by 2030," he added.
Mr Sanjiv Mehta,
President, FICCI stated
that the mines and minerals play a key role in industrialization of an economy. "It is vital for our country to create a strategy for critical minerals and
rare earth security. Reducing the supply chain and logistics cost by improving
the infrastructure and enhancing efficiencies in the entire value chain would
be essential to make our industries globally competitive," he added.
Leading industrialists, policy makers, world renowned associations from the steel, minerals and mining industry will take part in the two-day conference.