Q.20. Discuss India’s mineral development policy.

India’s mineral development policy, particularly the National Mineral Policy (NMP) 2019, is designed to ensure a sustainable and responsible mining sector that contributes significantly to the country’s economic development. Here are some key aspects of the policy:

• Sustainable Mining: The policy emphasizes environmentally sustainable mining practices, with stakeholder participation and benefits for mining-affected persons.

• Transparency and Efficiency: It aims to create a regulatory environment conducive to ease of doing business with simpler, transparent, and time-bound procedures for obtaining clearances.

• Exploration and Extraction: The NMP encourages the use of scientific methods in prospecting, exploration, and extraction, and promotes the development of a database of mineral resources and tenements.

• Infrastructure Development: There is a focus on developing mining infrastructure and financial support mechanisms to boost the sector.

• Private Sector Participation: The policy seeks to reduce import dependency and promote domestic industry by encouraging private sector participation in mining.

• Foreign Trade and Investment: The NMP aims to attract foreign investment and establish a stable policy environment for the export and import of minerals.

• Welfare Measures: It includes provisions for the welfare of project-affected persons and tribal communities, ensuring equitable distribution of mineral wealth.

The policy’s vision is to integrate the mineral sector with the broader goals of the country’s economic development, ensuring that mineral resources are allocated and managed in a fair and equitable manner. The NMP 2019 reflects India’s commitment to maintaining a high level of trust between all stakeholders in the mining sector and contributing to the nation’s overall economic growth.