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MoS Steel and Rural Development urges industry to explore ways and means to make Indian Minerals & Mines Sector self-reliant

New Delhi, August 24, 2022: Two days International conference of Indian Minerals and Mines industry- Transition Towards 2030 & Vision 2047 which began here on Tuesday (23rd Aug 2022) came to an end with a structured mechanism, seeking to entail amalgamation of think-tanks & industry stakeholders relating to M&M sector to evolve an approach that is comprehensive for its growth an expansion.

The Conference in which the Minister of State for Steel and rural Development Mr. Faggan Singh Kulaste gave a valedictory address, calling upon the participants to explore ways and means to make India self-reliant in its minerals & mines sectors as also lay emphasis on accelerating exports of the precious metals.

The conference which was jointly organized by NMDC & FICCI also had the participation of Secretary Ministry of Steel Mr. Sanjay Singh in its valedictory session asked the industry leaders present on the occasion to convert the reserves of iron-ore into resources.

According to Mr. Singh, the targeted capacity for steel sector for 2030 as well as 2047 which has been pegged at 300MT and 500MT respectively would be achieved with a proper roadmap in place for it. This would mean that the reserves of iron-ore as estimated would have to be converted into resources as that would be ideal to achieve the desired path, stressed the Secretary Steel.

Advisor NITI Aayog Mr. Kundan Kumar in his observations urged the participants and the industry to come out with a comprehensive and detailed programme for minerals & mines sector and submitted to all stakeholders for necessary action inducing the Govt so that the required is put in place in terms of policies for the growth & expansion and diversification of Indian mines & minerals sector.

Sh. Sumit Deb, CMD, NMDC Ltd. who chaired the valedictory session called upon the participants and policy makers to extend their support to the sector to the best of their abilities so that it is operationalised & functionalized accordingly for its broader& wider growth since the sector can substantially increase its contribution to national GDP from current level of 2percent and so.

Mr. Sunil Duggal Whole-time Director & Chief Executive Officer, Vedanta Group in his presentation felt that post covid, the mining & mineral sector posted a progressive thinking process, the result of which came out in the form of two days national conference in which enough material was generated for various think-tanks to make future policies for this sector that are forward looking.

Dr. Ila Patnaik, Chief Economist, Aditya Birla Group in her address focused on challenges that minerals & mines sector face in the wake of changing international geo-political scenario, suggesting that focus on exploration would have to be intensified for prospective countries such as India.

The 2-day conference had very interactive and relevant sessions on Industry Vision 2047 for Minerals & Metals Sector in India, Global Landscape for Minerals& Metals Industries, New-Age Minerals: Demand-Supply-Trade Scenario, Minerals & Metals: Technological Innovations and Enabling Factors facilitating Growth in Indian Minerals & Metals Sector.

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