IMME exhibited spectacular show
The summit reiterated focus on exploration, technology, policy frameworks and emerging business opportunities
The recently held ‘International Mining & Machinery Exhibition (IMME)’ has left the mining and coal sectors asking for more. Organised by Confederation of Indian Industry (CII) in association with the Union Ministry of Mines and Coal India Ltd., the summit focused on exploration, technology, policy frameworks and emerging business opportunities in the Indian mining and coal sectors.
Speaking at the inaugural session, Partha Chatterjee, Minister-In-Charge, Commerce and Industry, Government of West Bengal, pointed out that the mining industry, which is one of the largest employers of the country, provides employment to about a million people and is pitched to grow by five per cent by 2020.
The minister projected West Bengal as one of the viable investment destination as it accounts for 73 per cent of total coal and lignite employment together with Jharkhand, Andhra Pradesh and Madhya Pradesh. “The state is the perfect amalgamation of talented industry leaders, skilled and creative workforce to satiate investor requirements, especially in the mining sector,” he added.
Mr. Chatterjee also said that the state government has shortlisted a venue in Kolkata for international trade fairs. He hoped that with such a coordinated approach and concerted efforts from industry, governments and other stakeholders, the mining sector in India will soon emerge as a major growth driver in the global economies and a source of sustenance for people.
V K Arora, Chairman, CII Mining & Construction Equipment Division, pointed out, “The central government is working on the Mining Bill, which has undergone several iterations in order to offer benefits to all stakeholders. We hope that the various points of discussion will be resolved expeditiously.”
“India is one of the largest growing markets and being eyed by many global investors,” stated Louis de Leon, President, Mining Products Division, Caterpillar Inc. “Demand for iron ore coal and copper etc. is expected to be main drivers of global capex.”
Chandrajit Banerjee, Director General, CII in his address talked about the Draft MMDR Bill 2011 and expressed CII’s opinion that the awarding of mineral concession in case of Prospecting License should be done through ‘first come first basis’ rather than through competitive bidding for reserves with sufficient evidence of enhanced mineralisation in the proposed bill.