More industry-friendly reforms in mining sector very shortly: Pralhad Joshi

"More industry-friendly, productive friendly reforms will be brought to the mining sector very shortly," Joshi said during a webinar on "Indian Mining Industry: Contribution Towards Aatmanirbhar Bharat" organised by FICCI. "At this juncture I would also like to urge the industry stalwarts and stakeholders to share their insights as to how collectively we can collaborate and innovate to make this sector self reliant," he said.

Mines Minister Pralhad Joshi on Tuesday said the government will come out with more industry-friendly reforms in the mining sector very shortly. "More industry-friendly, productive friendly reforms will be brought to the mining sector very shortly," Joshi said during a webinar on "Indian Mining Industry: Contribution Towards Aatmanirbhar Bharat" organized by FICCI.

"At this juncture, I would also like to urge the industry stalwarts and stakeholders to share their insights as to how collectively we can collaborate and innovate to make this sector self-reliant," he said. The minister also invited investors, explorers, and miners to come and explore the huge opportunities that the Indian mining sector offers.

The minister said that other issues like illegal mining, environment clearance, and forest clearance will be deliberated and suitable action as per the law will be taken in the due course of time. The minister further said that 500 mining blocks would be offered through the open and transparent auction process.

Mining as a sector creates wealth and employment and strengthens the nation from within, Joshi said. The sector, he said, contributed Rs 4.1 lakh crore to India's GDP in the last financial year by employing about 1.1 crore people.

Yearly, 5.5 crore people depend upon the sector for their livelihood. India is a mineral-rich country producing 95 different minerals, including metallic and non-metallic and minor, he said adding the mineral sector, therefore, is the backbone of the country's economy.

Stating that commercial coal mining is the biggest reform in the coal sector the country has ever seen, Joshi said in the coming times the reform will boost the production by introducing competition, transparency, and private sector participation.

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