Challenges ahead for India

摘要

While India is being touted as the next major market for commodities behind China, not too much has been said about the country's prospectivity in terms of its potential as an investment destination for mining and exploration. And, it's fair to say, some of what has been said has been reasonably negative. Those who attended the Australian Journal of Minings iron ore and steel conference in Western Australia last quarter, for instance, will recall the remarks made by Sesa Goa Ltd's managing director Len Dean as he lamented the fact that things went a little slowly when dealing with the Indian bureaucracy. Sesa Goa is India's largest privately-owned exporter of iron ore. "You have to have swift and decisive action," Len said when it came to describing how a mining house should be able to operate.