The Hindu Business Line : Govt working on simplifying mining policy, says official

MR Ajay Dua, Secretary, Department of Industrial Policy and Promotion, said here on Thursday that the Government was now working on measures to make the mining policy simpler.

Speaking at a business luncheon on the subject of `India as a business partner,' at the CII Partnership Summit 2006, he said the Government was constantly revisiting and revising its mining policy.

Responding to concerns expressed by the Australian High Commissioner to India, Mr John McCarthy, on the existing mining policy, Mr Dua said there was a need to address governance issues with "increased transparency, accountability and promptness in dealing with business concerns".

Mr McCarthy opined that in areas such as mining cooperation between India and Australia, there were areas of uncertainty owing to "many approvals from too may layers in Government." Expecting the specific issue, along with those around infrastructural shortfalls to be competently addressed, Mr McCarthy said that mining was of great strategic interest for Australia. He disclosed that about 70 senior Indian and Australian corporates would be attending an Indo-Australian Coal and Mining Forum, and put in place mechanisms for commercial and technical linkages.

Mr McCarthy said India-Australia ties would be strengthened by the visit of the high-level trade delegation that would accompany the Australian Prime Minister later this year, and the wide range of business interests could span collaborations on LNG or science and technology partnerships, specifically around bio-technology.

Welcoming the speakers, Mr Sanjay Budhia, MD, Patton Ltd, said that India had emerged as a "robust pillar" of the global economy and a destination choice for investors and transnational corporations.

CII, he pointed out, was committed to securing more investments for the country to support resurgent India's knowledge and manufacturing skills base with a "crystallised and clear identity". He said India Brand Equity Foundation, a CII-Government initiative, was an important step towards building of `Brand India'.

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