31 May 2012

Exploration and Mining of Diamond

Minister of Mines (Independent Charge), Shri Dinsha J. Patel informed Rajya Sabha today in a written reply that as per the Government statistics maintained by the Department of Industrial Policy and Promotion, the Foreign Direct Investments (FDI) inflow into the mining sectors during January 2011 to December 2011 is 140.25 million US$ ( Rs. 630.77 crore).FDI up to 100% is permitted under the automatic route in Mining and Exploration of diamond and precious ores, subject to the Mines and Minerals (Development & Regulations) Act, 1957, as per para 6.2.3.1 of the Consolidated Foreign Direct Investment Policy Circular 1 of 2012 dated 10th April, 2012 issued by the Department of Industrial Policy and Promotion, the Minister said. 

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