G Kishan Reddy invites global investor community to invest in India's mining industry
Union Minister of Coal and Mines, G. Kishan Reddy on Thursday invited the he global investor community to invest in the vast mining industry of the country, the Ministry of Mines stated in a release.
ANI
Jan 15, 2025 17:49 IST
New Delhi [India], January 15 (ANI): Union Minister of Coal and Mines, G Kishan Reddy on Thursday invited the he global investor community to invest in the vast mining industry of the country, the Ministry of Mines stated in a release.
Attending the Ministerial Round Table of the Future Minerals Forum 2025 in Riyadh on 14 January 2025, which is being hosted by Saudi Arabia, the Union Minister said that the value addition in the entire supply chain is the key to greater prosperity for the people.
During his intervention, Reddy highlighted the importance attached by the Government of India to secure the availability of critical minerals required for the increasing capacities of clean energy systems to meet the country's renewable energy targets.
On the sidelines of the Forum, Reddy met the Minister of Industry and Mineral Resources, Saudi Arabia, Mr. Bandar bin Ibrahim Alkhorayef. Shri Reddy engaged in wide ranging discussions and stressed on enhancing trade and investment relations between the two countries.
The Union Minister also met the Ministers of Brazil, Italy and Morocco separately during which he stressed upon the importance of economic and technical cooperation, especially in the minerals sector. Later, during the day, he interacted with the local Indian diaspora.
Today, the Union Minister attended the inaugural function of the Future Minerals Forum at the King Abdulaziz International Conference Centre, where exhibition by partner countries and global companies have also been organised.
Reddy visited the India pavilion, which has been put up by the Ministry of Mines with Coal India, GSI, NMDC, NALCO and MECL. The Union Minister is on an official visit to Riyadh, Saudi Arabia from 14 January 2025.
India is the 2nd largest Aluminium producer, 3rd largest lime producer and 4th largest iron ore producer in the world. Healthy growth in production of iron ore and limestone in FY 2023-24 reflect the robust demand conditions in the user industries viz. steel and cement.
Coupled with the high growth in Aluminium, these growth trends point towards strong economic activity in user sectors such as energy, infrastructure, construction, automotive and machinery. (ANI)
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