A vibrant mining sector has the capacity to spur growth and add up to $ 70 billion to the country’s economy as well as generate 60-70 lakh jobs, a report by industry body CII said.
The report — Mining Opportunities – Realising Potential — also stresses on dealing with clearances which it says “still remain an impediment for a smooth transition from auction stage to implementation stage”. A vibrant mining sector has the potential to propel economic growth not just through its contribution to GDP but also through its forward and backward linkages, the report said. “In high growth scenario, mining sector can add close to $ 70 billion to GDP from now to 2030. Mining could play a crucial role in employment generation for India moving many from poverty to empowerment. In an accelerated growth scenario, mining can generate an additional 6-8 million jobs,” it added.