India’s mining minister Hon. Narendra Tomar visits PDAC
The Indo-Canada Chamber of Commerce (ICCC) in collaboration with the Consulate General of India in Toronto hosted a business reception in the honour of Hon. Narendra Singh Tomar, India’s Minister of Rural Development, Panchayati Raj and Mines on 5th March 2018.
The Hon. Minister is visiting Canada to participate in the annual PDAC International Convention, Trade Show & Investors Exchange held in Toronto. The Hon. Minister is leading a high-powered delegation comprising India’s public sector mining companies as well as senior-level government of India officials of the rank of Additional and Joint Secretaries.
The reception was attended by the Indo-Canadian business community of the Greater Toronto Area and the Indian diplomatic corps. His Excellency Vikas Swarup, the High Commissioner of India in Ottawa was present, as was the Consul General of India in Toronto Amb. Dinesh Bhatia.
Speaking on the occasion Hon. Minister Tomar said that the mining sector is a priority area for the Indian government and the use of latest technology will bring further transparency and better monitoring in the mining sector.
He emphasized that the Modi government has already accomplished a lot so far but there is always more scope for doing better and fast work, as contribution of the mineral sector towards the growth of the GDP is significant and has to be improved further in collaboration with the States.
He said, with the Amendment in the MMDR Act in 2015, the Auctions of mines so far has led to an additional revenue of over ₹ 122 billion accruing to the States during the life span of the mines in 50 years.
In addition, the amount collected in the DMF funds in the Districts affected by the mining activities is over ₹100 billion, which will be spent in the development of these districts and the people of these districts.
His Excellency Vikas Swarup in his brief speech said that the recent visit by Canada’s Prime Minister the Rt. Hon. Justin Trudeau to India, and the joint statement issued on the occasion of his visit by Canada and India emphasizes the significance that both countries accord to the bilateral ties.
He lauded the role that the Indo-Canada Chamber of Commerce has been performing in fostering bilateral ties between the two countries.
The Consul General Dinesh Bhatia in his remarks said that Canada and India can help each other in the mining sector by utilising existing synergies in the sector. Canada can provide both investment avenues for Indian companies as well as technological knowhow to Indian companies in the sector.
He listed the minerals in which Canada leads the world, and said that India, in its quest of rapid development, needs all these minerals.
Kanwar Dhanjal, President of the Indo-Canada Chamber of Commerce (ICCC), in his remarks, said that in the mining sector, our journey of cooperation began a decade ago when during India and Canada Foreign Office Consultations held in Ottawa in December 2008, the Indian side conveyed its interest for a broader MoU on Mining between the two countries.
The specific areas of interest for India include potash, urea, gold, diamonds, oil and gas, uranium, clean coal technology, mining prospecting technology, etc. A MoU between the India’s ministry of mines, and Canada’s department of natural resources, concerning cooperation in the field of earth sciences and mining was signed in 2010 in Toronto.
He added, “Over the last decade, several significant developments have occurred in the mining sector both in Canada and in India, and it would be necessary to keep in mind these developments while charting the future course of cooperation between our two economies in this sector. The Indian mining sector is being developed in a sustainable manner, with special attention being given to the needs of the indigenous people on whose traditional lands mining activities are to occur.”