India seeking 1 trillion investment double mining output and less import

India is importing a lot of minerals.

The Ministry of Mines:

The Ministry of Mines
A branch of the Government of India is the body for formulation and administration of the rules and regulations and laws relating to mines in India. Piyush Goyal is the head of the ministry since July 2016.

website: mines.nic.in
Headquarters: Shastri Bhawan, Dr. Rajendra Prasad Road, New Delhi – 110 001
Cabinet Minister: Narendra SinghTomar
Coal Minister: Piyush Goyal
 Minerals:
  mines.nic.in
Minerals are the chemical compounds which occur naturally. Their origin is either crystalline or biogenic in nature. Rocks are not minerals. The science of minerals is called Mineralogy . Dead remains of human beings, animals or plants from minerals and fossil fuels. Minerals are formed from high pressure, very high temperature and all the suitable conditions which are required. It takes million of years for minerals to form.

New Delhi:

India is looking for Rs.1 trillion ($15 billion) of investment over five years in order to double mining output and to reduce mineral imports.Keeping in mind the challenges of land and environmental hurdles, the administration is inviting foreign companiesGoyal said on Saturday in New Delhi that from doing the small amount of search will bring change in the rules of the game.


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India seeking 1 trillion investment :-

Iron ore to coal supply is increasing for the world’s fastest-growing major economy to achieve faster development which will power more manufacturing which an objective of Prime Minister Narendra Modi. Indian plans are on hold by Foreign companies like Rio Tinto Group and steelmaker Posco. Red tape and in acquiring land are facing difficulties .

India was embraced with a competitive bidding as the best long-term approach to resource allocation after bruising corruption scandals over discretionary or free allotments. The nation auctions exploration and mining rights.

Statement:

India seeking 1 trillion investment

Statement of Mr. Pyush Goyal, who is energy minister,”mineral exploration in India is nascent”. India is importing a lot of minerals. He keeps all the imports in check.

 

India is importing an amount of about 10 million tonnes of iron ore, according to the CRU Group. Environmentalists have resisted an effort by Vedanta Ltd to mine the mineral at Niyamgiri in the eastern state of Odisha. India has explored only about 13% of 575,000 square kilometers with geological potential in it .

The wealth is below the ground,”.