The
Vice President of India, Shri M. Venkaiah Naidu has said that companies like
NMDC must look beyond the conventional templates, take up skilling programmes
for youth in a big way and give a thrust to ‘Make In India’ initiative. He was
addressing the gathering at the Diamond Jubilee Celebrations of NMDC Ltd., in
Hyderabad today. The Chief Minister of Chhattisgarh, Dr. Raman Singh, the Union
Minister for Steel, Shri Chaudhary Birender Singh, the Deputy Chief Minister of
Telangana, Shri Mohammad Mahmood Ali, the Minister of State for Steel, Shri
Vishnu Deo Sai, the Minister of State for Science & technology and Earth
Sciences, Shri Y.S. Chowdary, the Minister for Mines & Geology, Telangana,
Shri K.T. Rama Rao and other dignitaries were present on the occasion.
The
Vice President said that the Public sector Enterprises have contributed
immensely to the country’s economic growth. He further said that they have
played a pioneering role in building the Infrastructure – be it telecom, transportation,
power, irrigation or road network. Coal, oil and natural gas are the other key
areas where the public sector companies have made immense contribution to the
national economy, he added.
The
Vice President said that India is the only country with about 65 per cent of
the Population aged below 35 years. This is a big demographic boon and the
energies of the young, educated population have to be fully harnessed to
transform India into the one of the leading economic powers in the world in the
coming years, he added.
The
Vice President said that congratulated NMDC on posting a Profit
(before tax) of Rs.4,293 crores in FY’17 and emerging as one of the top
profit-making ‘Navratna’ public sector companies in the country. He expressed
his happiness that NMDC has set up a dedicated exploration wing at Raipur,
which will facilitate discovery of additional mineral wealth and lead to growth
of the mining sector in the country.
The
Vice President said that NMDC has also spread its footprint globally, with acquisition
of leases of gold deposits in Tanzania, a majority stake in an iron ore deposit
in Australia and a coking coal deposit in Mozambique in partnership with two
other public sector enterprises under the Ministry of Steel. It
is heartening to note that NMDC is geared up to meet the expected increase in
demand by enhancing production capabilities of existing mines and opening up
new mines, he added.
Following
is the text of Vice President’s address:
“It
gives me great pleasure to inaugurate NMDC’s Diamond Jubilee celebrations.
Reaching the milestone of 60th year of journey is a memorable and
special occasion– be it a person’s life or an organization – and when the
entity is doing so well at this stage, creating immense value and spreading
prosperity, it indeed calls for celebrations.
Before
embarking upon NMDC’s remarkable journey, I would like to briefly highlight the
important role played by Public Sector Enterprises (PSEs) in the country’s
development narrative.
The
Public Sector Enterprises (PSEs) have contributed immensely to the country’s
economic growth. Over the years, the PSEs have helped the country in building a
sustained industrial base and technological competencies in a number of areas.
The
PSEs have played a pioneering role in building the infrastructure—be it
telecom, transportation, power, irrigation or road network. Coal, oil and
Natural Gas are the other key areas where the public sector companies have made
immense contribution to the national economy.
Achieving
self-sufficiency, reducing imports to save precious foreign exchange, promoting
exports, removing regional disparities to ensure balanced development,
preventing monopolies in Private sector and providing employment were among the
main objectives in establishing scores of PSEs across the country. To a large
extent, many PSEs worked towards fulfilling these objectives and provided
employments to lakhs of people. Of course, there were also public-owned
companies which failed to deliver the goods and that is a different story
altogether.
Friends,
India is the only country with about 65 per cent of the population aged below
35 years. This is a big demographic boon and the energies of the young,
educated population have to be fully harnessed to transform India into the one
of the leading economic powers in the world in the coming years. For this to
happen, companies like NMDC must look beyond the conventional templates, take
up skilling programmes for youth in a big way and give a thrust to ‘Make in
India’ initiative.
As
you all are aware, the story of NMDC set up on 15th November, 1958 is woven
around the dreamy hills and the deep jungle land of Bastar in Chhattisgarh,
known as Dandakaranya from the epic periods. The entire area was brought to the
mainstream of civilization by the spectacular effort of NMDC by opening-up of
mines in the year 1967. Today, Bailadila is a name to reckon with in the world
iron ore market.
NMDC’s
journey has indeed been commendable. I glad to know that nearly a fifth of the
total employees in NMDC are tribals, mostly from the local areas. Further
skilling of youth will enhance the Human Capital of our country.
The
saga of NMDC includes the pioneering exploration activity carried out for
developing iron ore mines in Karnataka and in various regions like Kudremukh,
Donimalai, Bababudan, Kumaraswamy and Ramandurg.
I
am happy to note that NMDC is currently the largest iron ore mining company in
India with three highly mechanized iron ore complexes located in Chattisgarh
and Karnataka. It is also gratifying to note that NMDC’s Diamond Mining
Project, Panna (M.P.), is the only mechanized diamond mine in Asia.
I
congratulate NMDC on posting a Profit (before tax) of Rs.4,293 crores in FY’17
and emerging as one of the top profit-making ‘Navratna’ public sector companies
in the country.
I
am glad that NMDC has set up a dedicated exploration wing at Raipur, which will
facilitate discovery of additional mineral wealth and lead to growth of the
mining sector in the country.
R
& D efforts of any company give an indication of its growth and
sustainability. NMDC’s state-of-the-art R&D centre at Hyderabad, declared
as a “Centre of Excellence” by UNIDO can spur further growth in the
sector.
I
am told that NMDC has also spread its footprint globally, with acquisition of
leases of gold deposits in Tanzania, a majority stake in an iron ore deposit in
Australia and a coking coal deposit in Mozambique in partnership with two other
public sector enterprises under the Ministry of Steel.
I
am very happy to know that NMDC is striving to invest in strategic and critical
raw materials which are required by our nation for long term supply Security.
In line with this strategy, NMDC has already entered into MoUs with MIDHANI
& DMRL to explore opportunities for investment in Tungsten mineral assets
in India and abroad. Such initiatives will give impetus to ‘Make in India’
campaign.
Friends,
as you are all are aware, India is a mineral rich country and produces 95
minerals. The mining industry in India typically contributes around 2.2-2.5 per
cent of India’s overall GDP. This, I feel, is far below the potential of
India’s rich mineral resources, which have to be explored and fully tapped. For
a country like India, the growth of core sector like mining is highly
significant because of its multiplier effect on the economy – leading to higher
industrial production, creating large number of jobs and above all, leading to
development of infrastructure.
I
am told that India is in the second position as regards Chromite and Barytes,
while South Africa and China respectively possess the highest deposits of the
two minerals. India is in the third position as regards coal and bauxite and
ranked fourth globally as far as iron ore is concerned.
The
country today is on a high growth path and needs more steel raw materials to
build its infrastructure and strengthen its manufacturing base.
I
am told that NMDC is in the process of implementing its strategic management
plan to achieve 67 million tons per annum (MTPA) production capacity by 2021-22
and is also well poised to reach 100 MTPA production capacity by 2030 and
thereby play a vital role in achieving the targets set out in our National
Steel Policy 2030-31.
It
is heartening to note that NMDC is geared up to meet the expected increase in
demand by enhancing production capabilities of existing mines and opening up
new mines.
I
am told that NMDC is also setting up slurry pipelines which are green way of
evacuation of iron ore. This pioneering initiative of NMDC is commendable.
I
am also happy to know that as a part of its diversification and forward
integration plan, NMDC is setting up a 3.0 MTPA green field Steel Plant at
Nagarnar in Chhattisgarh, which is in advanced stage of construction. This steel
plant will bring about much-needed development of the entire region.
NMDC
has also forayed in pellet-making which is also an environment friendly
initiative.
I
would like to compliment NMDC for its CSR initiatives in
the areas of medicare, education, skill training, infrastructure and drinking
water supply. I am particularly happy that these programmes are being carried
out in remote and backward areas, which face serious law and order problems due
to left-wing extremism. It is laudable that NMDC has spent Rs.798 crore in the
last five years on a series of CSR initiatives and has been among the top 10
companies in India in actual CSR spend in the last few years. The initiatives
include creation of Education Hub in Dantewada, extending 18,000 scholarships
to children from weaker sections, providing free treatment to tribes and
deploying mobile medical services in remote villages.
Corporate
bodies like NMDC are setting high benchmark for other organizations to emulate.
On this momentous occasion, my heartiest congratulations to all those who have
been part of this 60 years journey of NMDC and I wish the best for many more
such years to come in the times ahead.
I
am delighted that NMDC has been especially attentive to environmental concerns.
I am told that NMDC mines have been granted 5-star ratings by the Indian Bureau
of Mines, Government of India on account of sustainable practices. I am glad to
know that NMDC is undertaking pollution control measures and working towards
‘Zero-Waste Mining’ by maximizing utilization of various grades of iron ore.
I
would urge NMDC to continue on its growth trajectory and maximize national
wealth by keeping the interests of people and planet in view.
Jai
Hind!”
***
BK
