‘Natural resources drive a country’s economy’ conclude the key speakers at Global Natural Resources Conclave

 ‘Economic development cannot take a nation forward on its own. We need a society and economy which complement each other. ’- Narendra Modi These inspiring lines from Prime Minister Narendra Modi underline the need for various socio and economic factors to work cohesively in order to achieve the desired development goals of a nation. And, a country can only progress if it aptly utilizes its natural resources to address its rising socio-economic challenges. It is no secret that effective management of Natural Resources drives a country’s economy. Its immense potential can only be utilized if the countries develop a well thought out strategy to tap into its enormous potential. It goes without saying that the extractive sector can stimulate sustainable economic growth, create jobs and help bring people out of poverty. The recently concluded Global Natural Resources Conclave, the first of its kind, organized by Network 18 and The Confederation of Indian Industry (CII), talked about the rapidly changing world scenarios that are making it mandatory for nations to explore their resource base to the hilt which will help them carve a niche for themselves at a global platform. The conclave witnessed key industry speakers, several industry stalwarts and thinkers deliberate upon the present and the future challenges being faced by the ever-developing economy like ours, pertaining to the natural resources sector.

• Highlighting how entrepreneurship and technology can drive India’s growth story, Vedanta Group Chairman Anil Agarwal talked about the vast contribution the natural resources sector can make to the existing economic development of the country.
• Australia’s richest citizen Gina Rinehart, Executive Chairman of Hancock Prospecting - a privately owned mineral and exploration company, discussed the elimination of red tape and what both countries can hope to learn from each other.
• JSW Group Chairman Sajjan Jindal underlined the need to make an optimum use of natural resources at the appropriate time so as to extract maximum benefits for the country’s economy.
• Focusing on how policy changes can go a long way in improving India’s mineral resources landscape, Piyush Goyal, MoS (Independent Charge) for Power, Coal, New and Renewable Energy and Mines confirmed his faith in building a mutual development strategy for the nations.
• Talking about the Global Natural Resources Conclave as a great platform to share ideas and discuss possibilities in the natural resources sector, Melody Meyer, President, Melody Meyer Energy LLC emphasized the need to pursue right investment strategies for energy development in India in the future.

The amalgamation of thought-provoking ideas with experts deliberating upon possibilities needed for growth of a country with respect to its natural resources sector at the Global Natural Resources Conclave paved the way for exploring some basic ground realities in terms of issues and opportunities concerning India’s natural resources.