Vertical gardens and home gardening kits are making inroads to help citizens to grow their own food and be self sufficient. The Make in India initiative is getting a fillip now. Make in India with was always the question? While we had all the resources poor implementation and government interference led to manufacturers relying on imports of raw material for manufacture. Take the paint manufacturers who import TIo2 when we have enough of it lying on our beaches.
It is such oppressive policies that had made the mining sector which is the bedrock for the industry to contribute a merely 3% to the GDP. The realization that if we need a double digit growth rate we need to ensure the the Mining sectors contribution the GDP is more that doubled.
In a high level presentation made by the NITI Aayog committee on mines, minerals and coal sectors headed by Vice Chairman Rajiv Kumar. It was attended by officials from Vale, Rio Tinto, Tata Steel, Vedanta and the industry chamber FIMI.
Indian may have done well in the ease of Doing Business ranking but that just a face cream. The problem is deep within. The mining sector has been facing a torrid time with oppressive policies and ignorant governments. Its because of this the global investors have feared to invest here. Though 100% FDI is allowed for mining we have had muted response.
Given the fact that the Indian Mining Industry is already highly taxed, FICCI recommended that the levy of high transfer charges should be reviewed and should be brought down, with retrospective effect, to protect the mining industry, in general and the downstream industry, in particular.