The Ministry of Mines is organising India's 1st ever mining start-up summit on May 29, 2023, in collaboration with IIT Bombay to encourage entry of start-ups in the mining sector.
Stating that start-ups aren't seriously looking at mining in India as most work in the fields of fields of e-commerce, fintech and edutech, Mines Secretary Vivek Bharadwaj told CNBC-TV18 that start-ups need to explore the vast opportunities the sector offers for growth.
Pointing to an yearly production worth over $7 billion from India's mining sector, he said that the enormous technological challenges being encountered in energy transition will provide big opportunities to start-ups, especially in areas like material intensity and circularity of materials.
With participation confirmed by over 150 start-ups, 20 large industrial units, many VCs and PEs, the government is looking at attract start-ups in the fields of exploration, virtual reality, automation, drone technology and consultancy for mining, in addition to industries from the mineral exploration sector, financial institutions and banks.
While the Secretary highlighted several other focus areas like provision of communication to miners during rains, fog or underground situations; the summit will look at innovation and techniques to support and improve the performance, safety and help in building autonomy in the field of mining and metallurgy.
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