FCC

India to achieve self-reliance in metals, mining sector

2024-03-26

During a virtual address, Pralhad Joshi, the Minister for Coal, Mines, and Parliamentary Affairs, emphasised the importance of minerals in the post-pandemic scenario and ongoing energy transition, stating that there has been a surge in demand for minerals worldwide. Further highlighting that the coal and mining sectors have been key drivers of India's economy. Joshi further stressed the significance of policy measures such as mine auctions and viability gap funding to boost the sector.

The minister also projected that India's metals and mining industry would witness sustainable growth in the upcoming decades, leading to self-reliance in production. Sunil Duggal, Chairman of Policy and Strategy at Vedanta Limited, delivered the keynote address, underlining the transformative impact of electric vehicles (EVs) on the sector globally. He pointed out that the demand for metals for EVs far exceeds that of conventional cars, emphasising the sector's increasing focus on sustainability.

Duggal cautioned about the potential global conflicts arising from China's dominance in EV production and its actions, such as mineral bans. He stressed the need for industry sustainability to shed the sector's historical reputation as polluting and hazardous.