World leaders, thinkers deliberate upon leveraging natural resources to spur up a nation’s economic growth
‘Natural resources sector is the key to India’s economic development.’- Anil Agarwal, Group Chairman- Vedanta
These words by Vedanta Group’s Chairman reinstate the fact that if a country wants to prosper, it is essential for it to utilize its natural resources appropriately.
Countries have been banking upon their natural resource base to build strong economic partnerships and to accelerate their growth. Since India has abundant natural resources, if utilized well, can spur the economy to faster growth.
Highlighting India’s role in leveraging its natural resources to harness the economic growth for maximum benefits, the recently held Global Natural Resources Conclave provided an apt platform for countries to discuss their inherent potential concerning this sector.
The Conclave witnessed several industry stalwarts and thinkers deliberating upon the present and the future challenges being faced by the ever-developing economy like ours, pertaining to the natural resources sector. Underlining how policy changes can go a long way in improving India’s mineral resources landscape, Piyush Goyal, Minister of State with Independent Charge for Power, Coal, New and Renewable Energy and Mines said, ‘States like Jharkhand, Madhya Pradesh and eastern states of India are blessed with large reserves of natural resources, we are making focused and concerted efforts to make them the powerhouses in the approaching times.’
The key speakers talked about the proactive collaboration from industry leaders as well as the most influential Indian and global names to position India as a formidable global player in the natural resources landscape. Appreciating India’s efforts to provide ease of business to its people, one of the speakers- Gina Rinehart, Executive Chairman of Hancock Prospecting said, ‘India has earned strong economic growth which is a huge advantage. As the economy grows the demands continue to increase and for those countries needing mineral resources, close domestic proximity is a significant advantage.’ The key speaker also talked about the elimination of red tape and what both countries can hope to learn from each other in the natural resources sector.
The conference was a step closer to establish India as the emerging global leader in the natural resources segment. The effective exchange of ideas between leaders on topics spanning across various sub-sectors like natural gas, oil, mining, minerals and important metals like zinc, copper and aluminum etc. set the stage to build a strong base for the efficient use of natural resources.