There was hardly any investment in the mining sector despite the sector was opened up for 100 per cent FDI in February 2000. There is an urgent need to find out ways and means to attract private investment in exploration because government agencies have not been able to find resources
A strong domestic coal production and delivery system is important to achieve energy sufficiency and long-term energy security. Also, an independent coal regulator is required to create confidence of private investors, writes A Shivkamal.India is the seventh largest country in the world with a total land area of over 3,287,260 sq km and with a growing population of 1.22 billion that has put severe strain on the Indian infrastructure.
Nearly a fifth of the countryâ€™s land is rich in commercially viable mineral deposits, but without proper prospecting policies, mining has not always been scientific. The government is now wooing foreign players into prospecting and mining in India,
Karnataka now finds itself in the company of other states in the clamp down on mining and ore transport. This means India will soon drop down in its export rankings of ore, adding to the brewing export and currency troubles. A Shivkamal writes that in this delicate environment, further reforms in mining will prove to be difficult to implement, at least in the near future.