Vedanta Chairman tweets for level playing field & transparent policies for natural resources industry. Expressing optimism from the new government, Mr. Anil Agarwal, Chairman, Vedanta Group today via a tweet rooted for a level playing field and transparent policies for the natural resources industry in India.
Stable and consistent policies will enable healthy competition not just between public sector units (PSUs) and private sector companies but even multi-nationals. Further, he stressed that the government should not be differentiating between Public Sector Units (PSUs) and private players. The chairman is of the opinion that it will open up the industry, will facilitate companies to invest in infrastructure, upgrade technologies and provide employment opportunities across sectors.
Citing examples of other countries which have successfully utilized their natural resources, Mr. Agarwal said that India’s abundant natural resources could be utilized to propel and position itself as an alternative business partner to the world, instead of China.
Highlighting the potential of the mining industry, the Chairman said while India as a nation has the ability to produce 600 million tonnes of iron-ore, our country is only producing 100 million tonnes. He urged the government to give clearances to restart mining in Goa and abolish Export duty which is reckoned to be counterproductive for the industry.
The country has abundant natural resources for companies to come to India to explore oil and the natural resources. Countries like America, Central America, Australia, Middle East, have eradicated poverty, created jobs by focusing on natural resources. The time is conducive for India to come forward and invite the world with open arms to invest in natural resources.
Mr. Agarwal also expressed hope in the country’s reforms in the power and coal sector and will explore suitable opportunities at an appropriate time.
Over the years, the company’s strategy is in line with development and economic growth objectives of the government: sustainable mining, employment generation and meeting demands of industry for raw material.