Mining sector has seen maximum reforms in the last six years, says Dharmendra Pradhan
Union Minister of Steel & Petroleum and Natural Gas Dharmendra Pradhan today said that Mining is one of the key sectors where a large number of policy reforms have been undertaken in the last 6 years, bringing about a paradigm shift. Speaking at the National Mining Summit organized by PHDCCI here on Wednesday, he called for greater value addition to drive self-reliance. The Minister said that the hon’ble Supreme court had decided that ownership of the natural resources of the country lies with the people of the country and called for a new procedure for exploitation of natural resources. Following this, the Government moved in this direction, and the change from nomination to bidding process for resource allocation was started. The States, where these resources lay, have become the major beneficiaries in the revenue thus generated.
Pradhan said that the Prime Minister has envisioned that all natural resources including Coal, Iron ore, bauxite, Manganese, rare earths etc should be properly assessed and exploited, and their monetization should be done through the transparent bidding process and at the same time, cost competitiveness of the country should be retained. He said challenge is to make the processes simpler and easy. The Minister said that in this age of global village, the international investors will invest only if they see certainty and profitability in the venture. He said that the policy making is being done, keeping all this in mind. Various departments of the Government of India are working in sync in this regard, along with the substantive help from various state governments.