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Mining, farming are the answer to India's poverty: Anil Agarwal

Interview with Chairman, Vedanta Resources

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Anil Agarwal

Kunal Bose 



The mining sector has the potential to create hundreds of thousands of jobs in the country’s poorest and remotest areas, says Anil Agarwal, chairman of Vedanta Resources, the London-headquartered mining and metals conglomerate. The sector will grow swiftly, he tells Kunal Bose, if all resources are brought under one ministry. Edited excerpts:

India’s geological formation is among the richest in the world. However, unlike Australia, India has not been able to expand its minerals resource and reserve (R&R) base fast enough. And, minerals production in general remains flat. What is needed to give a push to the sector?

What disappoints is that the share of mining in the country’s gross domestic product (GDP) is a little over one per cent. In fact, the sector’s contribution to GDP has fallen in the past decade, in the face of growing domestic demand for minerals. A McKinsey report says mining has the potential to create six million new jobs and contribute an additional $47 billion to GDP by 2025. Remember, mining jobs get created in the most backward districts of India’s poorest states. I strongly believe that in mining and farming are to be found the answer to the country’s poverty. Scientific prospecting and exploration will let us know the resources beneath the earth.

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First Published: Wed, August 03 2016. 00:09 IST

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