Global Mining Summit

General Information

Indian Mining Sector Offers An Unmatched Opportunity

Indian economy has emerged as one of the fastest growing economies globally with GDP consistently growing at 8 to 9%. With such high economic growth rates, India has emerged as one of the most energy-hungry countries and also a sought after investment destination for global corporations. Recognizing the pivotal role of the mining sector in supporting the accelerated economic growth, the rapid development of the sector has come into sharp focus. Stimulating investment in public and private sector in exploration and production of minerals has therefore assumed strategic importance for the country.

India is a globally leading mineral producer endowed with a rich resource base of several major minerals like coal, iron ore, bauxite, etc. It offers an unmatched opportunity to both domestic and global companies. The growth forecasts in the end-use sectors in the country when combined with the large export market potential suggest a vast market opportunity for investors in the mining sector.

As India gets ready to ramp up investments in the mining sector, the world mineral scenario is also fast-witnessing significant changes. Not only have the world markets seen growing global demands for metals & minerals and consequently high prices but policy & regulatory environments in almost all resource rich nations have also seen dynamic changes, making them more investor friendly. India is thus competing with other resource rich countries to attract investments in the mining sector. Government of India is actively engaged in policy debates taking policy liberalization process far beyond allowing 100% foreign direct investment in the sector. It needs to address specific challenges in policy; procedures for permits, clearances, licenses and land acquisition; infrastructure; funding; technology and environment. Several corporate initiatives are also being undertaken to integrate with the global mining industry in terms of inflow of technology and best practices.

Against this backdrop the Confederation of Indian Industry (CII) is organizing the Global Mining Summit on 6-7 November 2008 at Hotel Hyatt Regency, Kolkata. This summit will be held concurrently with the 9th International Mining and Machinery Exhibition 2008 (IMME 2008).