Mines play a vital role in economy: Kishan Reddy

Hyderabad: The Union Minister of Mines, G Kishan Reddy, emphasised the crucial role of the mining sector in the country's economic development. He stressed the importance of making greater efforts to achieve self-sufficiency in the country's mining sector in the near future. Additionally, he highlighted that the mining industry is the largest employer in the country.

On Wednesday at the Ambedkar International Centre in Delhi, the Union Minister awarded 5-star ratings to 68 mining companies from across the country. These companies were recognised for adhering to the highest standards and sustainable development norms. Notably, five mining companies from Telangana and five from Andhra Pradesh were among the recipients of these awards.

Later, the Union Minister congratulated all the award recipients. The central government is responsible for recognising those contributing to achieving sustainable development goals and protecting the environment in the mining sector. He emphasised that these awards are to encourage their efforts in the mining industry.

He said that India has enormous mineral potential, and it is crucial to capitalise on it to progress. According to Prime Minister Narendra Modi, India must strive for self-sufficiency in this sector. He noted that critical minerals are currently being imported, and to make the most of our own resources, there is a need to reduce these imports. Kishan Reddy urged mining companies to leverage technology in their operations and prioritise environmental protection alongside development. He highlighted the importance of technology in ensuring mine safety, protecting workers, increasing production, and safeguarding the environment.

Kishan Reddy mentioned that in the recent budget, the government has removed the customs duty on 25 critical minerals. This move is expected to enhance the processing of critical minerals within the country. India is currently the 5th largest economy in the world, and it has aspirations to become the 3rd largest economy in the near future. To achieve this goal, the mining sector should operate at its full capacity, he added.