National Mineral Policy 2019 aims to raise mineral production by 200% in 7 years

Mr A.K. Nayak, Joint Secretary, Ministry of Mines, Government of India said that National Mineral Policy (NMP) 2019, which aims to hike mineral production by 200 per cent in seven years, is a fine document but would need support from all stakeholders to make it a success. Speaking at 'National Mineral Policy 2019 - A Landscape of New Opportunities' conference, organized by FICCI, jointly with the Ministry of Mines, Govt. of India, Mr Nayak said, "The new policy is a very fine document, but it is up to all of us to make it a blueprint for action. Unless there is complete synergy among all stakeholders like industry, Central and state governments, regulators, it would be very difficult to make a headway."

Highlighting key aspects of the new policy, Mr Nayak said that it focuses on raising the share of mining in the country's GDP through large scale exploration with priority to deep-sea minerals and by assisting in getting the necessary clearances. "The NMP talks of increasing mineral production by 200 per cent in seven years. It's a very ambitious target. It also talks of reducing the trade deficit in mineral sector by 50 per cent in seven years. Government is conscious of the fact that there is a need to reduce the import bill," Mr Nayak said.

 

He also highlighted that the new policy has pitched for exclusive mining zones having in-principle statutory clearances and intergenerational equity, among others. Intergenerational equity is basically responsible and sustainable mining so that we don't exhaust all our reserves and leave nothing for the future generation, he added.

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