Industry, players hail govt’s decision to further open coal sector
India Inc on Wednesday hailed the government’s move to further open coal mining sector and allowing non-coal companies to participate in auctions without end-use restrictions. In a bid to attract investments and boost domestic coal production, the Cabinet approved promulgation of Mineral Laws (Amendment) Ordinance 2020 to amend Mines and Minerals (Development and Regulation ) Act 1957 and Coal Mines (Special Provisions) Act 2015 to open up coal mining in the country to non-coal companies while removing restrictions on end-use of the fuel.
Industry body CII said the government’s decision to open up coal sector without end-use restrictions will help boost both production and mining efficiency. CII President Vikram Kirloskar said allowing 100 per cent FDI in coal mining will help India not only to harness its coal reserves, which were earlier available only for captive use of steel and power, but also help many leading foreign players to establish operations in India with their new age technology in mining.
