While resource consumption in India has been on the rise, the paper laments that “performance has been poor both in input and output parameters compared to best practice mining economies like the US, Canada, Australia, China, Brazil and South Africa.” It recommends an expansion of the country’s resource base, and specifically calls for the exploration and development of minerals like bauxite, iron ore, lead and zinc.
The announcement of the targeted GDP increase comes against the backdrop of efforts to remove bureaucratic obstacles for the mining sector, as well as plans to ramp up research and development, and to set up a stakeholder network as part of a new national resource strategy. Arguably a latecomer in the global race for resources, India is serious about correcting past mistakes – a mindset one would hope to also find in Washington, DC, where a comprehensive critical mineral strategy has yet to be devised.
