Mining sector can add $500 billion, 3 crore jobs: Fadnavis

The mining sector could add close to $500 billion to India's economy over the next 20 years and create three crore jobs, Maharashtra Chief Minister Devendra Fadnavis said in Nagpur on Friday.

Fadnavis was speaking at the 36th National Convention of Mining Engineers and the national seminar "Mining for Viksit Bharat @2047", organised by the Nagpur Local Centre of The Institution of Engineers (India).

The Chief Minister said Vidarbha has the full potential to become a major engine of the country's economic growth on the strength of mining, and could contribute significantly to the Viksit Bharat 2047 vision.

"The whole world is looking at energy security. But now mineral security has become linked with energy security. Energy security is no longer possible without mineral security," he said.

Fadnavis said today's world talks about semiconductors, AI and quantum technology, and these three things, which are shaping the new world order, depend heavily on power and minerals.

He said supply chains across the world are fragmented, making it necessary for every country to build a strong mining ecosystem of its own and achieve security in minerals.

The Chief Minister said several missions of the central government are driving the country forward, and the mission for critical minerals and rare earths is changing the picture of the country's mining industry.

Fadnavis said the country's mining industry currently rests mostly on coal, limestone and iron ore, which are performing well, but as a developing nation India also needs steel, cement and energy.

He said the country's economy now also needs lithium, cobalt, copper and several other critical minerals and rare earths.

"One thing causing the most disturbance in today's world order is the control of mineral resources. Today, most conflicts around the world are over minerals and mineral security. Meanwhile, India's new mission is creating opportunities that have never been seen before," the Chief Minister said.

"This mining industry is going to contribute close to $500 billion over the next 20 years. And it will add three crore jobs to our economy, which is a very conservative estimate," he said.

Fadnavis said technology has completely changed the scope of mining, and AI has made exploration easier and more sustainable.

Highlighting the importance of coal gasification, the Chief Minister said that of the first eight coal gasification projects under the new national mission, four have been awarded in Vidarbha itself.

Speaking about Vidarbha's mineral wealth, especially the iron ore reserves of Gadchiroli, Fadnavis said the region is set to see an investment of about Rs 5 lakh crore and development of around 50 MTPA of steel-making capacity.

"Gadchiroli, Chandrapur, Bhandara, Nagpur, Gondia and Yavatmal will together form a new steel ecosystem. Green steel, clean technology and better logistics connectivity will create large-scale employment and economic opportunities in this region, in Maharashtra and across the country," he said.

A release issued by the organisers said Union Coal and Mines Minister G Kishan Reddy could not attend the event in person but sent a message saying critical minerals such as lithium and rare earth elements are vital to India's green energy transition and resource security.

Reddy emphasised sustainable, technology-based mining, progressive mine closure and high safety standards, and called for greater collaboration among academia, industry and policymakers.

"With the help of automation, AI and advanced exploration technology, India's mineral wealth can be used safely and effectively," Reddy said.