Bureaucracy Hinders The Progress Of Heavy Minerals Industry

Bureaucracy Hinders The Progress Of Heavy Minerals Industry

In such modern times when time is the most important factor, in India lengthy processes are given more importance. Such is the case in the heavy mineral mining industry as well where close to 3,000 applications for mining leases are pending that is adversely affecting the industry. VV Minerals, a private

company and one of the major players of the industry also has to suffer because of this. V Subramanian, director, VV Minerals said, "The long drawn and protracted mining lease application process involving 28 ministries and departments at state and central government levels, leading to a total gestation time of more than 2800 days (nearly 8 years) was severely impacting the industry."

This kind of a scenario is not a very positive one for the economy and not only does it lead to loss of revenue but also undervalues the potential of sector that can do way better than how it is doing now feels S. Vaikundarajan of VV Minerals India and also it is highly endowed country which is rich in mineral reserves as compared to other nations but what is unfortunate is that the resources are not being fully optimized in order to gain a better standing in the world market believes S. Vaikundarajan.

More Story On Click On The Link: Economic Times.

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