India needs to unlock its natural resource potential


India needs to unlock its natural resource potential

With election season under way, political leaders across India are debating how best to grow the economy and end the poverty that still affects over 175m people nationally.

Candidates across the political spectrum should understand that an ambitious programme to develop the country’s natural resources would support this goal by making economic growth more inclusive and creating millions of jobs.

But attracting the capital needed to expand the mining and oil industries will require government to work with business to improve the investment climate, raise environmental standards and build public support.

The Indian economy is the third largest in the world. After years of being touted as the next big thing by the global resources industry, it has reached a scale where its growth will have a significant impact on international commodity markets.

Indian demand for steelmaking ingredients iron ore and coking coal is expected to double between 2016 and 2030. Read More

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