The Business Bytes
TBB BUREAU
NEW DELHI, JULY 29, 2021
“Odisha will indeed be one of the major contributors to Atma Nirbharta in mineral-based industries,” said Jindal Steel & Power Ltd (JSPL) Chairman Naveen Jindal, while addressing the Odisha Mining Summit organised by Minerals and Metals Committee of PHDCCI in virtual mode today.
Jindal, who is also the Co-Chairman of the Minerals & Metals Committee of the PHDCCI, said that Odisha offers immense possibilities for locating mineral-based industries for manufacture of Steel, Ferro-alloys, Cement, Alumina/Aluminum, Refractories, Thermal Power, etc., along with setting up other auxiliary and ancillary downstream industries.
With the announcement of reforms in the mining sector, India is expected to embark on rapid growth in the Coal, Steel, and Mining sectors and also achieve self-reliance in the years to come, the JSPL chief added.
Union Joint Secretary in the Ministry of Coal and Mines, Nirupama Kotru who graced the event as chief guest, said that the Government aims to double production of minerals in the next few years to reduce import dependency by allocating and regulating minerals in a transparent and sustainable manner.
Emphasizing on balance between economic development and sustainably, she said some of the goals of the ministry were incentivizing exploration via private sector participation; ensuring zero waste mining; and encouraging sustainable mining. “The Ministry of Coal and Mines has the vision of a modern, sustainable, competitive coal sector enabling accelerated coal production ensuring energy security and economic growth,” she added.
Discussing on the ease of doing business in Odisha, JSPL Managing Director V R Sharma emphasized on the need for more reforms that would help sustain the industry in the long run.
In his presentation on Mining Industry in Odisha, ICRA Limited Assistant Vice President and Sector Head – Corporate Sector Ratings Ritabrata Ghosh deliberated upon the role of the mining industry in powering Odisha’s economic development; mineralogical map of Odisha; key reforms implemented by central government and the government of Odisha in the mining sector and many more. Focusing on infrastructure can lead to growth to accelerate demand, he said, adding that coal gasification would be the new growth driver for the mining sector and, Odisha would emerge as a hub for the export of coal by commercial miners.
Vraj Metaliks Pvt Ltd Managing Director Vijay Jhanwar mentioned that there is a need to increase the production of iron ore, improving the bidding methodologies, and support merchant mining.
Deliberating on the rich mineral resources in Odisha, PHDCCI Senior Vice President Pradeep Multani highlighted how the availability of huge minerals reserves has opened up immense possibilities for locating mineral-based industries in the State. He also lauded the efforts undertaken by the Union Government and the Odisha Government.
Talking about the importance of Odisha for the mining sector in terms of procuring the iron ore, PHDCCI Minerals & Metals Committee Chairman Anil K Chaudhary said that there is an increase in the export of iron ore in the country; but there is scarcity of raw materials. He suggested that there is a need to increase production, start early production of newly auctioned mining blocks, and improve the infrastructure and transportation.
Mahanadi Coalfields Ltd Director O P Singh, and Swapnil Gupta of PwC also shared their views.
As many as 190 industry stalwarts from across the nation attended the summit, which was moderated by PHDCCI Assistant Secretary-General Yogesh Srivastav.
The webinar was supported by JSPL, while ICRA was the knowledge partner.
