According to the news, Vedanta Limited, one of the world's leading diversified natural resource companies, announced to join the bid in upcoming rounds of bauxite and iron ore auctions and expected the government to take action by adjusting import tariffs on primary aluminum, scrap, and downstream aluminum.
Moreover, Vedanta was also evaluated to acquire a majority stake in Bharat Petroleum Corporation Ltd., and the remaining stake in Hindustan Zinc Limited from the Indian government.
Ail Agarwal saw the opening up of India's mining sector as a win-win for commercial miners and the economy as a whole since the growth of more than its current 3% share of GDP was sure to spur economic activity.
India has enough metal production capacity, but it also imported. To help 'make in India' and create jobs, the government should use trade policy strategically."
India's Vedanta plans to bid for bauxite auction & consider acquiring government stake in mining company
6 Jan 2020 16:26 reported by Lemon
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