Allowing more Systematic Mining May Exert Pressure on the Rupee : Anil Agarwal, Chairman, Vedanta Ltd.

Bhubaneswar: Which is the one sector that can create massive jobs, generate revenue for exchequer, cut imports, support the rupee and contribute to rapid GDP growth?

It is below the ground. India has a very rich geology and yet 50% of our total imports are on account of materials from below the ground, like oil, gold, diamonds, copper and other resources. Large imports add pressure on the rupee.

What is the one thing that can change the trajectory of this sector?

It is trust. Layers of clearances prevent brownfield and greenfield expansion of this sector, which along with construction, has the biggest potential for creating jobs.

Let us allow both public and private sector companies to enhance production. At any rate, production should not be stopped. Let us boost their morale and give respect. This will change India.

Rules and regulations should be there to enhance prosperity, not slow it down.

Lay down norms. Move to self-certification followed by audit like in income tax. People will follow the norms.

These may seem like small changes but they can make a big difference.