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Economy Nov 28, 2012

Govt should use resources for faster growth, says Anil Agarwal

Udaipur: Executive chairman of Vedanta group said that the government should utilise India's vast natural resources for faster economic growth.

"India is a country that has tremendous natural resources. Keep them for another 300 years and they would still remain unutilised. Why can't we utilise them for our people of India," Anil Agarwal told students of Indian Institute of Management (IIM) during a recent three-day visit to Udaipur.

He spoke about the need for energy security in India. IBN Live

"India cannot remain poor for all time to come, can she? The import bill is rising and here in India we are not developing our domestic resources. Is it that India is becoming an "import dominated" country?" he told the students on November 22,according to a press release issued today.

Talking to about 130 management students and faculty members at IIM here Agarwal spoke of how important it was for India to have a supportive mineral exploration policy.

He spoke about the need for energy security in India and mentioned how important coal was for any development to take place.

Globally, 70 percent of all energy is produced through coal and if the industry does not have sufficient coal, it is difficult to achieve energy targets, Agarwal said. He also visited the College of Technology & Engineering (CTAE) here.

PTI


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