Moment to unleash new generation of entrepreneurs, says Anil Agarwal

India is endowed with some of the world's richest geology, and unlocking its vast underground resources is key to achieving Viksit Bharat, according to mining mogul Anil Agarwal (pictured). The Vedanta Group Chairman emphasised the need for bold entrepreneurs to responsibly explore and extract these resources, warning that failure to act now could mean missing a golden opportunity to cement India’s position as a global resource leader.  Despite India’s immense natural wealth, he pointed out that 60 per cent of the country’s imports are driven by natural resources such as oil, gas, gold, copper, and diamonds. 

Additionally, the mining firm is seeking global partners for a $20 billion expansion spanning zinc, aluminium, copper, iron, steel, oil, gas, and power.  According to a recent tender document, the conglomerate, which is in the process of splitting into four independent entities has earmarked these funds for investment in metals, mining, and hydrocarbons over the next three years.  While specifics of the tender remain undisclosed, the firm’s current plans include a $2-2.5 billion investment to expand Hindustan Zinc’s production and a $5 billion plan by Cairn India to increase oil output fivefold.