In an attempt to leverage the huge capabilities of India’s startup ecosystem, the country is organising its first ever ‘Mining Start-up Summit’ in Mumbai in collaboration with IIT Bombay on May 29.
The Ministry of Mines on May 10 unveiled the logo of the Mining Start-up Summit. On the occasion, the Secretary, Ministry of Mines said, “Start-ups can play a significant role in addressing the technological challenges faced by the mining sector of the country.” The Secretary also informed that more than 150 start-ups and 20 major industries will be participating in the summit.
The summit will discuss various pressing issues pertaining to the technological domain of the industry. In addition, the summit will focus on innovation and techniques that will support and improve performance and safety and help build autonomy in the field of mining and metallurgy.
Startups often bring fresh ideas and innovative technologies to the table. They can develop and deploy cutting-edge solutions specifically tailored for the mining industry. Startups can have various positive impacts in the mining sector. They can develop technologies to mitigate the industry's environmental impact, improve its resource management, and improve the working conditions of the people in the industry, among others.
Further, the summit will provide a platform for the Ministry to interact with startups in the field of mining and metallurgy and find out how these startups equipped with different technologies may contribute to the sector. The summit will witness participation from startups in the fields of exploration, virtual reality, automation, drone technology, and consultancy, among others.
Mining sector’s massive contribution to the economy
India's mining sector has made a major contribution to its economic growth, employment generation, energy security, and industrial development. The sector supports a vast workforce engaged in various activities such as mining operations, exploration, processing, transportation, and related industries. Given the country's massive mineral resources, it must harness their full potential. The summit organised by the government is a major step in that direction.
The summit is also significant, as recently, the Geological Survey of India (GSI) found lithium deposits in the country, and the summit’s outcomes will be beneficial in that context. GSI stated that lithium inferred resources (G3) of an estimated 5.9 million tonnes are found in the Salal-Haimana area of the Reasi District of Jammu and Kashmir.
