Steep taxes, low exploration spends eroding India's Mining Attractiveness

India is witnessing a consistent slide in rankings in the Global Mining Attractiveness Index. From sinking to the bottom 10 jurisdictions in 2016, the country was out of the reckoning in the latest survey for 2017 conducted by Canada-based Fraser Institute.

For 2016, the institute surveyed 104 jurisdictions where India was ranked 97th, joining the league of unattractive mining nations like Argentina, Venezuela, Afghanistan, Zimbabwe and Mozambique. In the 2017 survey, India was out of contention as the number of respondents were less than five. The attractiveness of a mining jurisdiction is rated on factors like existing regulations, taxation levels, quality