About the Conference
The mining industry is one of the core industries in India and provides direct employment to more than a million people, thereby contributing to livelihood creation. As the GDP of a country increases with rapid urbanization and industrialization, its mineral consumption also grows at a rapid pace. India holds an advantage in terms of cost of production, being among the lowest cost producer of steel and aluminium, due to ample mineral availability and access to cheaper manpower. The auction of mineral blocks with pre-embedded clearances is another significant reform taken by the government.
India’s mining sector is still underdeveloped as compared with other developing economies like China and Brazil. Despite being well endowed in most of the minerals and growing demand, the sector staggers back in supply due to low exploration, funding which leads to an increase in imports. India is 100 per cent import dependence on certain critical minerals which are used in aerospace, automobiles, nuclear energy, and other critical industries.
Massive investment is required in exploration and up-gradation of the technological ecosystem. Emphasis should be given on exploration to continuously augment the reserve base of the country and harness existing resources through scientific and sustainable mining including beneficiation. The recent announcements by the Government focus on enhancing domestic production, incentivizing exploration, and bringing more investments through unrestricted transfer of mineral concessions etc. are a welcome recognition of the mining industry’s role in “Atmanirbhar Bharat”.
To discuss the above & related issues, ASSOCHAM is organizing a Conference on ‘Indian Mines & Mineral Sector – Enhancing Exploration & Shaping Sustainable Supply Chain’ on 8th December 2023 in Hotel The Lalit Ashok, Bangalore.
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