India’s economy is charting rough waters, with virtually every sector facing growth concerns. The ubiquitous red tape and often confusing policies have made matters worse.
The mining sector is among the worst hit, with seemingly-unending bad news impacting it deeply. Despite large reserves of iron ore and coal, India’s imports of these precious raw materials have been increasing. Recently, ArcelorMittal scrapped its plan to set up a steel plant in Odisha, the largest foreign direct investment project for India, citing among others an inability to get iron ore linkages.
India’s mining sector, it is evident, faces serious challenges.
The cover story of MSLGROUP in India’s Public Affairs Round-up, or PAR, explores what lies in store for mining as India enters a crucial election year.
The other important debate in business circles centres around the new Companies’ Act that mandates corporate social responsibility (CSR) on companies of a certain size. Amrita Choudhary, deputy head of content at MSLGROUP in India, argues that the law will alter India Inc’s social approach and prove to be a big opportunity for CSR consultancies.
Hope you find this edition of PAR useful.