• 6 hours Are Bitcoin’s Environmental Risks Overblown?
  • 13 hours Why The Gold Rush Ran Out Of Steam
  • 3 days Coinbase IPO Explodes, But Fails To Keep Its Momentum
  • 4 days China Slaps Alibaba With Record $2.75B Antitrust Fine
  • 5 days The Pandemic Has Culled The Middle Class
  • 6 days Legacy Automakers See Massive Spike In Sales
  • 7 days Tesla's Biggest Competitor Is Going Cobalt-Free
  • 8 days Stocks That Could Benefit From Biden’s $2.5 Trillion Infrastructure Plan
  • 10 days The Mafia Has Expanded Its Influencer Under COVID-19
  • 10 days How Fintech Will Get Skeptics Into Crypto
  • 12 days Monday Markets Rise On Stellar Jobs Report
  • 15 days Not Even Bribery Allegations Can Crush Cannabis Boom
  • 19 days Canada May Become Leader In Booming Battery Market
  • 20 days Nearly 42% Of All Amazon Reviews Are Fake
  • 21 days Kidnapping Is Big Business In Nigeria
  • 22 days COVID Fraud Amounts To Nearly $570M
  • 24 days Art Is Now An Algorithm
  • 26 days TikTok Threatens America, Tesla Threatens China
  • 26 days Small-Cap Energy Sectors With Big Upside
  • 29 days Coinbase Valued At $68 Billion Ahead Of IPO
Gold Prices Sink On Economic Optimism

Gold Prices Sink On Economic Optimism

Gold prices fell further on Wednesday as…

Gold Inches Closer To $2,000

Gold Inches Closer To $2,000

Gold prices advanced higher on…

COVID-19 Is Crushing Palladium Demand

COVID-19 Is Crushing Palladium Demand

The global platinum market is…

Mining.com

Mining.com

Mining.com

MINING.com is a web-based global mining publication focusing on news and commentary about mining and mineral exploration. The site is a one-stop-shop for mining industry…

Contact Author

  1. Home
  2. Commodities
  3. Precious Metals

India's Elections Could Be A Boon For Mining Sector

Bullish

India is currently holding its Lower House general elections and Fitch’s Solutions’ Country Risk team expects Prime Minister Narendra Modi’s National Democratic Alliance, led by the Bharatiya Janata Party (BJP), to win the most number of seats, but fall short of a simple majority in the Lower House.

Under this scenario, Fitch forecasts in its latest industry trend analysis, India's mining sector would see solid growth in the coming years, boosted by the Bharatiya Janata Party's friendly policies towards mining, vast mineral reserves and improving commodity prices.

Policy continuity of Modi's reforms in the mining industry would drive substantial positive changes despite slow implementation, the analysts say. Since coming to power in 2014, the Modi government has enacted a series of liberalising reforms in an attempt to increase foreign investment into the sector.

Modi's re-election would also safeguard the new National Minerals Policy (NMP) approved in March 2019, according to which the government aims to increase the production of major minerals by 200% in seven years.

The possibility of an opposition win by the Indian National Congress poses risks to Fitch’s forecast, as the party has promised to better enforce the Forest Rights Act in their manifesto.

The results of the election will be released May 23.

By Mining.com

More Top Reads From Safehaven.com

Back to homepage

Leave a comment

Leave a comment