India needs suitable evaluation matrix for awarding exploration and mining projects: NITI CEO

New Delhi: NITI Aayog CEO Anurag Jain on Wednesday emphasised on the need to develop a suitable evaluation matrix for awarding exploration and mining projects to promote technical competence, investment, and sustainable development of India's gold resources.

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Jain was speaking at a meeting to deliberate on the report "India's Gold Mining Policy: Challenges, Learning and the Road Ahead", prepared by Pahle India Foundation (PIF) with support from the World Gold Council (WGC).

The Aayog in a social media post on X said the meeting focused on India's gold mining potential, the growing dependence on gold imports, and the need to strengthen domestic exploration and mining capabilities.

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Key issues discussed included geological data gaps, limited exploration, prolonged project development timelines, auction design and investment viability, it added.

The deliberations highlighted the importance of improving geological data through internationally accepted reporting standards, streamlining regulatory approvals through Centre-state coordination, and creating a predictable policy framework to enhance project bankability.

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