Vedanta Chairman Anil Agarwal Calls For Self-Reliance Amid 50% Import Dependence On Resources
Anil Agarwal, Chairman,
Vedanta, has shared a LinkedIn
post emphasizing the need to accelerate exploration of minerals and
hydrocarbons in India and stressing for a mission-driven approach to reduce
import dependence and strengthening resource self-reliance. In the post, Mr.
Agarwal highlighted India’s success in achieving food self-sufficiency through
a collective ‘above-the-ground’ agricultural transformation. He noted that a
similar “Jan Andolan” is needed to unlock India’s vast below-the-ground
potential, adding that its rich geology, young workforce and entrepreneurial
energy can rapidly scale exploration and production.
Mr. Agarwal further highlighted
that nearly 50% of India’s imports are linked to below-the-ground resources,
and a focused push in this sector can significantly boost domestic production,
employment and economic resilience. He underscored the need for policy
flexibility, innovation-led reforms and wider participation across startups,
private players and industry to drive outcomes.
In his post, he wrote:
“Exploration of our minerals
and hydrocarbons below-the-ground is a priority.
The world knows how India
created a jan andolan in our agriculture. Even as our population grew, we were
able to achieve self-sufficiency in food. I salute our farmers.
The Green Revolution happened
because all of India joined together. The time has come to create a revolution
for below-the-ground so that we can be free from imports.
This is an area of such huge
potential that I estimate that 30%-40% of our population, especially young
people, should find it very attractive to develop their careers and create
livelihoods. India has one of the best geologies in the world.
Of course, as we
did for our agriculture in the start, the government will have to be very
flexible except on matters related to the environment. There can no compromise
on that. Exploration should become a buzzword and attract all kinds of individuals,
startups, small companies, large companies – bring everyone together in this
national mission.
We have to be disruptive in
below-the-ground. We have to show to the world. We should let go of old
mindsets such as fixed term leases for mines (50 years at present). Like
elsewhere in the world, it should be for life of mine. We should think beyond
auctions. Let’s not be bound by any one process. The most important thing is
the outcome – massively increased production.
All of this has been
implemented successfully elsewhere in the world. We have a very advantageous
position. Because of today’s advanced technology, our young population, our
entrepreneurs and our positive government, we will be fastest to develop
below-the-ground potential.
At present, 50% of our imports
are on account of below-the-ground resources. This is our hard-earned money
which is going to create jobs in other countries. Let us use it for our own
development.
A revolution below-the-ground
will completely transform our country. Let’s come together in mission mode.”