The Federation of Indian Mineral Industries (FIMI) has reached out to Prime Minister Narendra Modi to seek intervention in order to bring about reforms that will increase and expedite growth in the mining sector. This could potentially create job opportunities for around 50 million individuals.
The apex mineral body has stressed on the fact that the industry is facing a high number of job losses and is in an immediate need for some improvement.
As reported, FIMI in a letter to the Prime Minister stated that the mining sector had the capability to provide employment opportunities directly to around 5 million. There was also mention of the sector’s past employment record which has been the third-largest job-generating area in the country. The letter also asserted that growth in the mining sector has benefitted job creation in states that have a lower per capita income than the national average like Jharkhand, Rajasthan, Odisha, Chhattisgarh and Madhya Pradesh.
Keeping with India’s goal of becoming a USD 5 trillion economy and increasing GDP growth to 8 per cent, reforms to improve the condition of the sector will be required as it is a significant contributor. Currently, however, the contribution of the mining sector to the GDP is reducing.