Synopsis
The recent reforms in India's mining sector, particularly concerning critical minerals, represent a significant advancement towards the vision of Viksit Bharat by 2047, as stated by Union Minister G. Kishan Reddy. These initiatives aim to enhance global competitiveness and promote sustainable development.Key Takeaways
- Reforms in mining sector crucial for Viksit Bharat 2047.
- State Mining Index to professionalize mining departments.
- Elimination of import duties on critical mineral scraps.
- Rs 300 crore allocated for coal and lignite gasification.
- Focus on achieving Net Zero emissions by 2070.
New Delhi, Feb 1 (NationPress) The transformations in the mining sector, particularly regarding critical minerals, will be a significant stride towards achieving the vision of Viksit Bharat by 2047, stated Union Coal and Mines Minister G. Kishan Reddy on Saturday.
During the Budget presentation for 2025-26, Finance Minister Nirmala Sitaraman highlighted the initiative to launch transformative reforms across six key areas where mining plays a vital role.
“This also signifies India’s substantial effort towards energy transition and sustainable development, thereby enhancing our global competitiveness over the next five years,” Reddy remarked.
In alignment with competitive federalism, the introduction of the State Mining Index is a revolutionary step set to elevate the professionalism of state mining departments. The announcement of a ‘Tailings Policy’ further supports the objectives of the National Critical Mineral Mission.
The removal of import duties on non-ferrous metal scraps and critical mineral scraps, including cobalt powder and lithium-ion battery (LIB) scraps, is a transformative change, he noted.
“The allocation of Rs 300 crore for coal and lignite gasification will pave the way for reduced emissions, carbon capture, and hydrogen production,” the minister stated.
From a sector previously mired in corruption and litigation before 2014, India’s mining sector is now aiming to become a global leader in sustainable mining and the critical mineral value chain.
The series of reforms in the coal and mining sector will propel production and innovation domestically while positioning India as a significant player in the global minerals market.
Building on last year’s tax relief measures for the mining sector, particularly regarding critical minerals, this year’s budget introduces a variety of progressive tax proposals.
These initiatives will greatly improve the competitiveness of the entire mining sector, especially as India fortifies its standing in the critical mineral industry.
India’s mining sector aspires to be a leader in sustainable mining and critical mineral value chains.
“As we aim to reach the goal of Net Zero emissions by 2070 and take the lead in the global energy transition, the mining sector will be crucial in securing the critical minerals necessary for this transformation,” Reddy concluded.
