Mining industry lauds PM Narendra Modi for turning red tape into red carpet

Prime Minister of India Narendra Modi waves following a joint statement to the press with Mexican President Enrique Pena Nieto, in Los Pinos presidential residence in Mexico City, Wednesday, June 8, 2016. Modi met with the Mexican President Wednesday evening during a short working visit to the country.(AP Photo/Rebecca Blackwell)

India's mining industry has had it tough last few years as it weathered challenges such as environmental concerns, tribal and civil rights activists, mining bans and legal cases.

As the industry digs its way out of the overground mess, it thanked Prime Minister Narendra Modi at Network18's Global Natural Resources Conclave on Wednesday.

'Red tape to red carpet' was the oft-heard expression on the inauguration of the two-day conclave, with the act being attributed to almost three years of Modi government.

"PM Modi is taking the country from red tape to red carpet," was heard first from Vedanta Chairman Anil Agarwal.

As if the praise of the who's who of India Mining Inc wasn't enough, they were joined in by Gina Rinehart, Chairman of Hancock Prospecting.

Rinehart said the government in Canberra needed to think and act like the Modi dispensation even as the Australian billionaire congratulated India for winning Border-Gavaskar Trophy. India beat Australia 2-1 in the four-match Test cricket series that concluded recently.

"I keep saying Australia needs to learn from Indian leadership and now President Trump.... I see a very bright future for resources  in India," Rinehart said.

JSW Group's Sajjan Jindal said the mining industry in India was the most corrupt till a few years ago. He said there was a time when the face of the promoter decided the allocation or non-allocation of the mine.

He said the auction of coal and non-coal minerals was a testimony of the Modi government's focus on transparency.