“The mining reforms introduced in the budget position India as a key player in the critical minerals sector. The sharing of best practices and institutionalizing a State Mining Index for minor minerals along with a policy for recovery of critical minerals from tailings will enable circularity and innovation within the industry.” Arun Misra, CEO – Hindustan Zinc Limited
The budget presented by the ‘Finance Minister’ is designed to accelerate growth, deeply rooted in the journey of our nation’s holistic development. The increased outlay for infrastructure spending marks a new era in India’s infrastructure growth which will undoubtedly provide impetus to other sectors as well. Support for states through interest-free loans to the tune of ₹1.5 lakhs crore and the creation of an urban challenge fund of ₹1 lakh crore for infrastructure projects, presents an opportunity for the manufacturing sector to develop new technologies and invest in innovation. The modernization of airports, ports, and greenfield developments further galvanizes India’s infrastructure backbone, driving both employment for the youth and GDP growth.
The mining reforms introduced in the budget position India as a key player in the critical minerals sector. The sharing of best practices and institutionalizing a State Mining Index for minor minerals along with a policy for recovery of critical minerals from tailings will enable circularity and innovation within the industry. As the country transitions to a low-carbon economy, these minerals will play a pivotal role, with metals forming the foundation of this shift. The announcement of the National Manufacturing Mission and measures to support MSMEs with access to credit and export assistance will create a robust domestic production ecosystem that will be integrated into global supply chains. As India’s largest and the world’s second-largest integrated zinc-lead producer, we are optimistic about the transformative impact of these initiatives which will enhance the competitiveness of India’s critical minerals sector while supporting industries such as electric vehicle manufacturing and renewable energy storage.
By Arun Misra, CEO – Hindustan Zinc Limited
