January 2, 2015 6:35 AM

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Mining ban led to loss of one million jobs: ASSOCHAM

ASSOCHAM report says that ban on iron ore mining and exports in Karnataka and Goa led to job loss of one million people. ASSOCHAM or the Associated Chambers of Commerce and Industry of India and Yes Bank have come to this conclusion in their report which has been released today. It points out that iron ore exports declined from over 117 million tonnes in 2009-10 to about 14 million tonnes in 2013-14 leading to massive job loss. They suggest that the Government should introduce single window clearances for Greenfield and Brownfield mining projects to improve financing avenues across mineral value chain. It says that higher growth rate of economy demands growth in demand for various metals and minerals. It also emphasizes on a time bound plan to centralize functions of all ministries and agencies to expedite approval processes in the mining sector.

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