Kolkata: Jindal Steel NSE 1.24 % and Power Ltd Chairman Naveen Jindal on Wednesday said the Union government should not “hoard” mines and create artificial scarcity, putting up only a few blocks for auction. He said India being a very competitive market, such scarcity leads to intense bidding and unsustainable valuation.
“Government has taken care of a lot of challenges, and commercial mining was a bold move… It should help the sector… But, the government cannot hoard blocks and create artificial scarcity,” Jindal said at the Bengal Chamber of Commerce-organised virtual mining conclave.
