NITI seeks easier access to geological data, capital for small exploration companies
Niti Aayog recommends government support for junior exploration firms and increased private participation. Streamlining approvals and forest procedures will reduce project delays significantly. Harmonizing renewable energy rules and addressing GST for logistics are also advised. Promoting domestic production of specialized alloys and battery recycling is crucial. Strengthening trade…
India's Niti Aayog is advocating for greater access to geological data, risk capital, and fiscal assistance for junior exploration firms, alongside boosting private involvement in exploration to rapidly unravel new mineral reserves. In a Trade Watch Quarterly report focusing on India's metals and ores commerce, the Aayog proposed extending compliance report durations, diminishing redundant approval stages, and simplifying forest and compensatory-afforestation protocols, as well as establishing clear guidelines for brownfield expansion to curb project delays.
Moreover, the think tank recommended harmonizing renewable-energy open-access guidelines, elevating banking ceilings and rationalizing wheeling fees for industrial consumers, accelerating slurry pipeline development, and addressing the GST treatment of off-site logistics infrastructure. The Aayog also emphasized the importance of promoting domestic production of aerospace-grade alloy steels, superalloys, aluminium, and titanium alloys, along with phased indigenous-content necessities and bolstered integration of Indian suppliers into aircraft and MRO value chains.
With metals commanding a $1.63 trillion market share in Q1 2026-27, India's metal exports totaled $34.8 billion, representing a 2.1% share. Iron and steel, including articles of iron and steel, constituted 50.9% of global metals demand, at $826.8 billion, with India's share at 2.5%. To bolster India's trade competitiveness, the Niti Aayog vice chairman Ashok Lahiri emphasized the need to diversify export markets and products, deepen integration with global and regional value chains, fortify domestic capabilities in strategic sectors, and create a policy milieu that empowers firms to compete effectively in the international arena.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
