Vedanta's Anil Agarwal Calls for Mining Reforms to Boost Domestic Production

Vedanta Chairman Anil Agarwal supports Prime Minister Narendra Modi's plea to conserve foreign exchange by boosting domestic production of resources, particularly oil and gold. Agarwal advocates for privatization and self-certification in mining clearances, aiming to reduce India's heavy reliance on imports and enhance self-reliance in critical resources.

Vedanta Chairman Anil Agarwal has expressed strong support for Prime Minister Narendra Modi's call to conserve foreign exchange amidst the current global economic challenges. Agarwal emphasized the urgent need for mining reforms to increase domestic production of vital resources such as oil and gold.

In a social media post, Agarwal pointed out that oil and gold comprise more than 30% of India's total imports. He suggested that addressing this issue could be achieved either by reducing consumption or by ramping up production, particularly given India's geological assets.

Advocating for reforms like privatization and self-certification in the mining sector, Agarwal argued that increasing domestic output could significantly reduce import reliance. As a case in point, he referenced Vedanta's past success in transforming Hindustan Zinc Limited into a self-reliant entity.