NITI Aayog member V.K. Saraswat addressing the conference on ‘Challenges and opportunities in minor mineral mining’ in Vijayawada on Friday.
| Photo Credit: K.V.S. GIRI
The Federation of Minor Minerals Industry (FEMMI) organised a national-level conference on opportunities and challenges in minor mineral mining in India here on Friday.
Addressing the conference, NITI Aayog member V.K. Saraswat said minor minerals must be included in the national framework as part of Atmanirbhar Bharat 2047.
Although minor minerals contribute more to Gross Domestic Product (GDP) and Gross Value Added (GVA) than major minerals, they have not received enough attention, he said, stressing the need for a National Minor Mineral Policy.
Advocating the ‘one nation- one minor mineral policy’ and for ‘one nation-one mineral- one royalty’, he said it would give a fillip to the minor mineral sector.
The NITI Aayog deliberated on the necessary changes and discussed them at the Inter-Ministerial Committee (IMC).
He supported amendments to Sections 15 and 15(a) of the MMDR Act to facilitate uniform taxation and rationalize minor mineral taxes. He also said a single-window system is needed to avoid delays in obtaining all necessary permits.
Professor R.M. Bhattacharjee from IIT-ISM, representing the Ministry of Mines, announced that actions are being taken to introduce a State Mineral Index and star ratings for States.
He moderated a panel of industry experts discussing mineral royalty laws, including representatives from FIMI, MEAI, GUJMIN, NCCBM, and the cement industry.
FEMMI’s secretary-general, C.H. Rao, vice-president Putta Ramakrishna, Mining Engineers Association of India secretary-general M. Narsaiah, and others spoke.
The speakers said that the minor mineral sector is the backbone of India’s infrastructure, construction, and manufacturing industries. It supports millions of livelihoods and significantly contributes to State revenues. However, regulatory inconsistencies, high taxes, environmental clearances, and policy paralysis have led to agnation, discouraged investment, and left many mines inoperative.
Minor minerals cannot be overlooked as India moves toward industrial self-reliance by 2047 and this conference aims to pave the way for policy corrections, tax rationalization, and administrative reforms to ensure a competitive, transparent, and growth-driven mineral industry, they said.
Published – March 07, 2025 09:35 pm IST