India eyes huge investment to double its mining output

New Delhi

INDIA expects to woo one trillion rupees (S$22.2 billion) of investment over five years to double mining output and cut mineral imports.

The government's goal is to fast-track exploration, including upfront payments for discovered deposits when the mines are auctioned, Mines Minister Piyush Goyal said in an interview. The administration will invite foreign companies to participate, he said, while acknowledging challenges such as land acquisition and environmental hurdles.