Take steps to accelerate discovery of new mineral resources, says NITI Aayog

New Delhi: The Government should take measures to improve access to geological data, risk capital and fiscal support for junior exploration companies, while expanding private exploration participation to accelerate discovery of new mineral resources, NITI Aayog said on Wednesday.

Follow The PSUWatch Channel on WhatsApp

The Aayog in its 'Trade Watch Quarterly' report suggested that the government should extend the validity of compliance reports, reduce repetitive approval stages, streamline forest and compensatory-afforestation procedures, and establish clear norms for brownfield expansion to reduce project delays.

It recommended that the government should harmonise renewable-energy open-access rules, increase banking limits and rationalise wheeling charges for industrial users, while fast-tracking slurry pipelines and addressing the GST treatment of off-site logistics infrastructure.

Follow PSU Watch on LinkedIN

According to the Aayog, there is a need to promote domestic production of aerospace-grade alloy steels, superalloys, aluminium and titanium alloys, alongside phased indigenous-content requirements and stronger integration of Indian suppliers into aircraft and MRO value chains.

The government think tank also called for establishing traceable collection systems for batteries and e-waste, promote domestic processing of battery black mass and scale commercial recycling technologies, while expanding accredited CBAM verification capacity and supporting exporters in meeting EU carbon-reporting requirements.

As per the trade watch report, India’s top 10 markets accounted for 50.9 percent of exports in Q1 of FY 27. The top 3 export destinations accounted for 1/3 of total exports. China recorded sustained growth, while exports to the USA & UAE registered y-o-y declines, it added.

Tanzania and South Africa entered the top ten export destinations, replacing Hong Kong and Saudi Arabia. Imports from the top 10 partners contributed to 61.4 percent in Q1 of FY 27 (57.2 percent in Q4 FY26) China and Russia (sharpest growth of 52.6 percent) recorded sustained growth while, UAE registered y-o-y declines.

(PSU Watch is India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy. 👉 Click to join our channel now: PSUWatch WhatsApp Channel. Prefer LinkedIn? Follow PSU Watch on LinkedIN. Click to stay connected on Twitter here and stay updated)