Bhubaneswar: The Associated Chambers of Commerce and Industry of India (ASSOCHAM), in collaboration with credit rating agency ICRA, released a pivotal Knowledge Report titled “India’s Mining Transformation: Building a Resilient, Sustainable, and Self-Reliant Mineral Economy” during the India Mines and Minerals Conclave 2026.
Held at Hotel Swosti Premium, the event brought together high-ranking government officials, industry veterans, and technology innovators to chart a roadmap for a future-ready mining ecosystem.
The report provides an in-depth analysis of the sector’s evolution, emphasizing that India’s journey toward a $5 trillion economy is inextricably linked to mineral security. It advocates for accelerated policy reforms, the integration of advanced technologies like AI and automation, and a robust framework for the exploration of critical minerals such as lithium, cobalt, and nickel, which are essential for the global transition to clean energy.
Delivering the welcome address, Dr. Prabodh Mohanty, Co-Chairman of the ASSOCHAM Odisha State Development Council and Managing Director of SNM Group, underscored the strategic importance of the host state. He noted that Odisha has emerged as a powerhouse, generating nearly ₹1.5 lakh crore in mining revenue over the last decade. Dr. Mohanty highlighted that the state now accounts for approximately 25 percent of India’s total steel production, firmly establishing it as the steel capital of the country.
Shri Arun Kumar, Regional Controller of Mines at the Indian Bureau of Mines, attended as the Chief Guest. In his address, he signaled a shift in the government’s role from a regulator to a facilitator. He stated that current priorities are centered on the intersection of economic expansion, environmental stewardship, and the strategic security of critical minerals. Mr. Kumar further noted that meeting the national target of 400 to 450 million tonnes of iron ore to support the 2030 steel mission will require a faster pace of mine auctions and more efficient operationalization of mineral blocks.
Addressing operational hurdles, Manish Singla, Head of Mineral Auction, Strategy, and M&A at Jindal Steel & Power (JSP), raised concerns over supply-side constraints. Despite India’s vast natural reserves, Mr. Singla pointed out that the country was forced to import 10 to 12 million tonnes of iron ore last year. He emphasized that for Odisha to reach its ambitious target of 100 MTPA steel production capacity by 2030, the industry must overcome structural bottlenecks and delays in statutory clearances that currently hinder the domestic supply chain.
The conclave opened with a traditional lamp-lighting ceremony, symbolizing a collective commitment to progress and knowledge. Discussions throughout the day focused on the “Viksit Bharat” vision, with a shared consensus that sustainable mining practices and value addition within the country are the only ways to ensure long-term industrial resilience and global competitiveness.