22 Apr 2008 | 11:23
Mineral policy to attract $2.5 billion FDI annually
The new National Mineral Policy (NMP) envisages foreign direct investment (FDI) of $2.5 billion annually, Mines Minister Sis Ram Ola told Rajya Sabha in a written reply to a query on Monday, 21 April 2008. The minister said annual FDI of $2.5 billion is expected in the mining sector from the fifth year of implementation of the new NMP.
The minister said the policy sought to develop a sustainable framework for optimum utilisation of the countrys natural mineral resources for the industrial growth in the country and at the same time improving the life of people living in the mining areas, which are generally located in the backward and tribal regions of the country
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