Shri Faggan Singh Kulaste urges Industry to Explore Ways and Means to Make the Minerals and Mines Sector Self-Reliant

Union Minister of State for Steel and Rural Development, Shri Faggan Singh Kulaste said that the Mineral and Metal Sector has played a key role in the development of the country and will transform India from a developing to a developed country. Addressing the valedictory session of the two-day International Conference on Indian Minerals & Metals Industry – Transition Towards 2030 & Vision 2047, Minister said that the sector should be more innovative, competitive and research-friendly to enhance its capability of production of minerals and metals to meet the country’s needs as well as to export them.

Shri Faggan Singh Kulaste also said natural resources and their maximum possible exploration without harming the environment will be the key factors for our march towards development. The steel sector is playing a major role in the infrastructural development of every sector in the country. Ministry of Steel has introduced various programs like PLI Scheme, FDI etc. to encourage the players of the sector, Minister added.

Addressing the session, Secretary, Ministry of Steel, Shri Sanjay Singh stressed upon the reduction of carbon emission in the Steel sector to move towards Green Steel as directed by Prime Minister. Shri Singh said that the targeted capacity for the steel sector for 2030 as well as 2047, which has been pegged at 300MT and 500MT respectively would be achieved with a proper roadmap in place for it. This would mean that the reserves of iron-ore as estimated would have to be converted into resources as that would be ideal to achieve the desired path, stressed Secretary Steel.

Joint Secretary (NITI Aayog), Shri Kundan Kumar said that the mineral and metal sector has played a major role in the industrial as well as infrastructural development of the country. Shri Kundan Kumar urged the industry to come out with a comprehensive and detailed programme for the minerals & mines sector and submit it to all stakeholders for necessary action so that the required policy is put in place for the growth & expansion and diversification of Indian mines & minerals sector.

CMD, NMDC Ltd. Shri Sumit Deb, who chaired the valedictory session, called upon the participants and policymakers to extend their support to the sector so that it is operationalised & functionalized accordingly for its broader & wider growth since the sector can substantially increase its contribution to national GDP from the current level of about 2 per cent.

The two-day conference had very interactive and relevant sessions on Industry Vision 2047 for Minerals & Metals Sector in India which was organized by NMDC in association with FICCI.  

Disclaimer : This is an official press release by PIB.