India will soon enact a legislation to attract overseas investments in mining and make the sector more investment-friendly, reports say.
Ministry of Mines Special Secretary S. Vijay Kumar said in Toronto on Wednesday that the proposed bill would become operational by this year-end, and would address concerns expressed by foreign investors.
Kumar is currently in Toronto heading an Indian delegation to the Prospectors and Developers Association of Canada convention. More than 22,000 delegates from over 100 countries, including 45 from India, are participating in the four-day convention.
The new mining bill will align Indian laws with the best international practices, Kumar said.
Kumar said the government would consider the request of some Canadian companies for opening exploration and exploitation of atomic minerals for foreign investors.
http://www.rttnews.com/ArticleView.aspx?Id=1235762&SMap=1
