The government has left no stone unturned in creating a stable, progressive and supportive business environment to work on.
Leading the path of creation of a conducive business environment, National Aluminium Company Ltd (NALCO) has been playing a key role in empowering the Micro and Small Enterprises with a modern & innovative platform ‘NALCO Micro And Small enterprise Yogayog Application’ (NAMASYA). It is a bi-lingual App developed exclusively for the benefit of NALCO’s MSE vendors.
The NAMASYA App provides a platform to highlight NALCO’s efforts towards the development of Micro and Small Enterprises. The App also empowers MSEs with required information about the vendor registration process, items that can be supplied by them with technical specifications, vendor development and training programmes of NALCO.
Let’s learn more about NALCO
National Aluminium Company Limited (NALCO) is a Navratna CPSE under the Ministry of Mines. It is one of the largest integrated Bauxite-Alumina-Aluminium- Power Complex in the country.
NALCO has not only addressed the need for self-sufficiency in aluminium but has also given the country a technological edge in producing this important metal at global standards. Globally, NALCO has achieved the distinction of being the lowest cost producer of Bauxite and Alumina in the world as per the latest report of Wood Mackenzie.
With its consistent track record in capacity utilization, technology absorption, quality assurance, export performance and posting profits, NALCO is a bright example of India’s industrial capability.
India has large reserves of Iron ore, Bauxite, Chromium, Manganese ore, Baryte, Rare earth and Mineral salts and to boost the nation’s industrial capability and to promote ease of doing business in the sector, the government has taken several important measures.
Let’s have a look at them
The Metals and Mining sector in India is expected to witness a major reform in the next few years, owing to reforms such as the Make in India Campaign, Smart Cities, Rural Electrification, and a focus on building renewable energy projects under the National Electricity Policy as well as the rise in infrastructure development.
Also, with the launch of the National Mineral Policy 2019 and the Mines and Minerals (Development and Regulation) Amendment Act 2021, India presents a major opportunity for investors.
MMDR Amendment Act
The MMDR Amendment Act, 2015 ushered in transparency in the allocation of mineral concessions in terms of Prospecting License and Mining Lease. In this continuous endeavour, the Mines and Minerals (Development and Regulation) Amendment Act, has been further liberalized in March 2021.
The recent amendment is expected to increase employment and investment in the mining sector, increase the revenue to the States, increase production and time-bound operationalization of mines, maintain continuity in mining operations after the change of lessee and increase the pace of exploration and auction of mineral resources.
The government is working from time to time with the aim to introduce ease of doing business, ensure continuous mineral supply and increase mineral production of the country thereby providing more jobs, increasing the contribution of the mining sector in GDP and fulfilling the dream of Atam Nirbhar Bharat.
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