Mining and Foreign Direct Investment in India
In order to satisfy a continuously increasing demand from industrial production, agricultural, high tech sectors and merchandise producers in more than 100 countries around the world people are engaged in the mining sector.1 Among Cheap Moncler Outlet those countries 50 countries can be called mining countries, because of the sector contribution to export earnings or because it serves large domestic markets or because it employs millions of workers such as in India or China. The mining sector is one of the largest employers in India employing more than one million workers which is around 4% of the Indian workforce.
According to World Bank the mining industry is poised to expand considerably over the next 20 to 30 years. Developing nations like India play an increasingly important role in that expansion on the demand side, as population and economies grow, as well as on the supply side, given shifts in exploration and mining development investments.
India produces as many as 86 minerals, which include 4 fuels, 10 metallic, 46 non metallic, 3 atomic and 23 minor minerals. The total value of mineral production in India (excluding atomic minerals) during 2009 10 is estimated at Rs.1,27,921.42 crores, which shows an increase of about 4.61% over that of the previous year,pulverizer in India .(pulverizer in India) .
Setting up coal processing plants like washeries subject to the condition that the company shall not do coal mining and shall not sell washed coal or sized coal from its coal processing plants in Canada Goose Jackets England the Parajumpers Parka Online open market and shall supply the washed or sized coal to those parties who are supplying raw coal to coal Canada Goose Outlet England processing plants for washing or sizing,marble mining equipment manufacturers in India (marble mining equipment manufacturers in India).
The Indian government has in a pragmatic manner opened up the mining sector to foreign direct investment in 1993 after the announcement of the new mineral policy to infuse funds, technology and managerial expertise in the sector. The Foreign direct investment policy in the mining sector has been gradually liberalized over the last few years,mica processing line,mica ore(mica processing line).
In 1997 automatic approval route for investments involving foreign equity participation up to 50% in mining projects and upto 74% in services incidental to mining was introduced. FDI cap for exploration and mining of diamonds and precious stones have been increased to 100% under the automatic route with effect from 10th Feb, 2006.2 With this, the Foreign Direct Investment in the mining sector for all non atomic and nonfuel minerals have now been fully opened upto 100% through the automatic route including diamonds and precious stones,manganese processing equipment for sale India (manganese processing equipment for sale India).
India has large reserves of beach sand minerals in the coastal stretches around the country. Titanium bearing minerals viz. Ilmenite, rutile and leucoxene, and Zirconium bearing minerals including zircon are some of the beach sand minerals which have been classified as substances under the Atomic Energy Act, 1962.
FDI for separation of titanium bearing minerals ores will be subject to the following additional conditions viz.:
(A) value addition facilities are set up within India along with transfer of technology;
(B) disposal of tailings during the mineral separation shall be carried out in accordance with regulations framed by the Atomic Energy Regulatory Board such as Atomic Energy (Radiation Protection) Rules, 2004 and the Atomic Energy (Safe Disposal of Radioactive Wastes) Rules, 1987.
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