According to a senior official in the mining department, the government of Rajasthan has unveiled a number of initiatives to entice mining industry investment in the run-up to the ‘Rising Rajasthan’ Global Investment Summit 2024, which is scheduled to take place in the state from December 9th to the 11th.
To attract investors and boost the sector’s growth, the government is expected to announce the Mineral Policy 2024 and the M-Sand Policy 2024. As the official put it, the plan’s objectives include reducing illicit mining and protecting the environment, increasing the sector’s contribution to Rajasthan’s GDP from 3.4% to 5% by FY30, and reaching 8% by FY47.
As part of the Rajasthan Investment Promotion Scheme (RIPS 2024), the state government has come up with financial incentives, suggested new policy launches, streamlined administrative clearances, and technology adoption. RIPS is an all-inclusive set of enticing incentives for establishing enterprises in the state.
The official went on to say that the industry is set to be revitalised by RIPS 2024 and the proposed policy reforms announced in the state Budget.
Chief Minister Bhajan Lal Sharma recently presented the RIPS 2024 project during an investor roadshow in London. One of the new focus sectors included metals.
Metals were not included in the thrust sector list of the previous RIPS 2022. The official stated that, in addition to the current standard package, the new addition will offer metals sector investors an additional incentive of at least 10%.
Just like the basic package, projects involving rare earth elements can receive an additional 25% incentive if they are listed on the sunrise sectors’ list, according to the official.
Drones are being considered by the state administration as a means to combat the widespread issue of illicit mining in the region.
In order to reduce illicit mining, the official added that drone grabs will provide information on the amount of mineral extracted, which will be compared with the lessee’s reported extraction on paper.
Under the proposed pre-embedded clearance concept, the government would obtain all necessary licenses before auctioning off the mine. According to the official, this means the lessee can begin production and execution right after the mine auction, cutting down on wasted time and money spent on obtaining clearances.
Lead, zinc, wollastonite, gypsum, and 22 other major minerals are among the unique outputs of this mineral-rich state’s 36 minor minerals. The mining industry brought in more than 7,460 crore rupees for the state in FY24.
source: business standard
English 
French