“If you look at the coal sector also…more than 1,400 people have requested or shown their interest in the last 15 days, which is a great thing. I think it will bring down our imports by more than 60 percent in the coal sector,” Thakur said
According to Minister of State for Finance Anurag Singh Thakur, the government has seen over 1,400 people’s interest in investing in the country’s coal sector during the last 15 days.
“If you look at the coal sector also…more than 1,400 people have requested or shown their interest in the last 15 days, which is a great thing. I think it will bring down our imports by more than 60 per centin the coal sector,” Thakur said.
The minister was speaking at an online conference hosted by the Confederation of Indian Industry (CII) on Friday.
On 18 June, Prime Minister Narendra Modi announced an auction of 41 coal blocks for commercial mining. Apart from no restrictions on the end-use of production, 100% of foreign direct investment ( FDI) has also been opened up to the sector.
According to the coal ministry’s statement, the move is expected to bring in Rs 33,000 acres of capital investment over seven years and generate Rs 20,000 acres of annual revenue for state governments.
As far as the defense sector is concerned, Thakur said that, along with increasing the FDI cap, the government was preparing a list of weapons for domestic production.
“We have made some reforms as far as the defence production is concerned. We have FDI from 49 per cent to 74 per cent and also we are going to make the list of weapons which will be made in India,” he said.
On the state of the economy, the minister said India remained structurally strong. “As far as the economy is concerned, let me say this, India remains structurally strong and the reforms undertaken in the last six years have built a strong foundation.”
