Vivek Venkatswamy highlights critical minerals role in growth

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By HNH Web Desk
Vivek Venkatswamy highlights critical minerals role in growth

Hyderabad: Minister for Labour, Employment and Mines G. Vivek Venkatswamy said the critical minerals sector in Telangana will play a key role in improving economic conditions in both the state and the country.

Speaking at a roadshow organised by the Ministry of Mines at HICC Novotel, he said these minerals hold high value in domestic and global markets. As a result, the sector is crucial for future economic growth.

He said both the Central and State governments have introduced measures to ensure transparency in mine allocation. In Telangana, the government has adopted a policy to allocate mineral resources only through auctions, he added.

Critical minerals Telangana policy boosts revenue and investment

Under this approach, the state has recorded a rise in revenues over the past two years. At the same time, the policy has attracted a large number of private bidders to participate in auctions.

The minister said the transparent system has strengthened investor confidence and improved competition in the sector. Moreover, it has helped streamline the allocation process.

The roadshow focused on the auction of critical mineral blocks and exploration licences. Union Minister for Coal and Mines G. Kishan Reddy attended the event as the chief guest.

 

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