Bengal drawing up policies to strengthen its position in mining, oil & gas space: Minister

kolkata: State Industries, Commerce and Enterprises minister Shashi Panja said on Thursday that Bengal is drawing up policies to strengthen its position in mining, oil and gas space.

"Bengal holds rich reserves of several minerals and is one of the leading states in mining," Panja said, adding, "The the state's potential can be gauged from the fact that it has Asia's largest coal mine and that its mining industry has grown at a CAGR of 7.1 per cent in the last four fiscals."

While speaking at CII's Global Mining Summit, Panja highlighted that in addition to traditional minerals, the state is well poised to emerge as a major supplier of oil and shale gas. She further underscored the state government's industry-oriented approach as evident from its Sand Mining Policy, launched in 2021, through which a lot of incentivisation and process streamlining has been done and inviting the wider minerals and mining equipment industry to invest in the state.

Vivek Bharadwaj, Secretary, Ministry of Mines, Government of India said that the country's mining industry needs to have a fresh outlook towards forging a dynamic ecosystem in India.

"The mining industry must prioritise developing its strengths in technological advancements and cost management instead of its traditional focal areas of workforce and incentives to stay ahead of the global growth curve," he added.

The two-day summit witnessed wide participation and rich deliberations by senior government officials and senior industry representatives/CXOs from diverse verticals within mining and mineral sectors.