VV Mineral Vaikundarajan Represents The Heavy Minerals Industry At India Mining Summit

1
VV Mineral Vaikundarajan Represents The Heavy
Minerals Industry At 'India Mining Summit'
2
Vaikundarajan Subramanian, the director of V. V.
Minerals, represented the heavy minerals industry
at the India Mining Summit organized by
Assocham. V. V. Minerals is one of the country's
largest players in mining, manufacture and
exports of garnet ilmenite in the country.
http//vvmineralblog.wordpress.com
3
V Subramaniam put forth the struggle of heavy
minerals mining industry due to some 3,000
pending applications for mining leases owing to
long drawn application process. Vaikundarajan
said The long drawn and protracted mining lease
application process involving 28 ministries and
departments at state and central government
levels, leading to a total gestation time of more
than 2800 days (nearly 8 years) was severely
impacting the industry.
http//vvmineral.wordpress.com
4
The consequential resource crunch and dumping of
Chinese titanium products and allied heavy
minerals into the Indian market adds up to an
uncompetitive market for Indian players in the
India and abroad, he added.
VV Mineral, Vaikundarajan spoke on the financial
and regulatory impact of high excise duties on
heavy minerals such as, ilmenite.
http//vvmineralmining.wordpress.com
5
"This leads ultimately to not just loss of
revenue and opportunity cost for the emerging
industry, but also underestimating the potential
of a sector which could yield nearly Rs 30,000
crore in annual turnover and correspondingly loss
of much required higher taxation revenues for
central and state governments," VV Mineral
Vaikundarajan added.
http//vvmineral-mining.blogspot.in
6
Without any anti-dumping duties, high excise duty
cost was making the product lines unfeasible,
which "leads to not just loss of revenue and
opportunity cost for the emerging industry, but
also underestimates the potential of a sector
which could yield nearly Rs 30,000 crore in
annual turnover and correspondingly, loss of tax
revenues for central and state governments." said
Vaikundarajan.
Considering its long coastline, the speedy
processing of the pending heavy mineral mining
lease applications, India could grab almost 30
of global market share as opposed to the present
3 and unravel a whole new economic paradigm for
this sector.
http//vvmineralmining.blogspot.in
7
VV Mineral Mining Blogs
http//vvmineralblog.wordpress.com
http//vvmineral.wordpress.com
http//vvmineralmining.wordpress.com
http//vvmineral-mining.blogspot.in
http//vvmineralmining.blogspot.in
8
Social Media
https//www.facebook.com/vvmineralmining
https//twitter.com/vvmineralsindia
https//plus.google.com/115427745398374600571
9
Thank You