PHD Chamber of Commerce and Industry issued a press statement perceiving the importance of privatization of 41 coal mines and terming it a significant Government step especially towards liberalized norms and single window clearance mechanism, which will only help ease doing business, reduce import dependence, increase self-reliance coal production and promote availability at market prices.

The industry body further added that the introduction of commercial mining in the coal segment on the revenue-sharing model, seamless composite exploration–cum-mining-cum-production regime for mineral sector along with forming Mineral Index will improve private investments and ensure better proficiency in mining and production process. Such measures will help move forward in achieving Aatma Nirbhar Bharat and push private sector investments in the coming times bolstered by the reforms.

To this end PHD Chamber of Commerce organized a webinar on the steel and mining sector - 'Challenges and Way Forward today' with M Nagaraju, Joint Secretary-MN, Ministry of Coal, Government of India; Sanjay Aggarwal, Senior Vice President, PHD Chamber; Deepak Pahwa, Chairman, Industry Affairs Committee, PHD Chamber; Vishwa Nath, Co-Chairman, Industry Affairs Committee, PHD Chamber; Vikram Agarwal, Co-Chairman, Industry Affairs Committee, PHD Chamber;  and V R Sharma, Managing Director, Jindal Steel & Power Ltd.

It was realized that the reforms will generate vast employment opportunities, incentivize small scale business, and facilitate overall socio-economic growth. Further, there is a need to make commercial mine auctions faster and efficient, alongside introducing a one-country-one tariff policy. The Government’s accentuation on coal gasification/ liquefaction and coal bed methane is highly appreciable as it is a viable environment-friendly option and will also help India change to a gas-based economy.

For more information: www.phdcci.in