A new report by FICCI and CRISIL has highlighted a significant and timely opportunity for the Indian mining and metals industry to enhance its competitiveness through a strategic focus on digitization and automation.
The report finds that these technological advancements can lead to significant efficiency improvements of 10-15 percent, gains previously only sought through policy measures like import safeguard duties.
Industry leaders assert that this digital transformation is not merely about operational gains but is a fundamental shift toward a more sustainable and efficient future. The Indian mining and metals industry can leverage the fourth industrial revolution technologies to optimize processes, reduce waste, and improve overall productivity.
The report also emphasizes a critical link between digitization and the industry’s environmental, social, and governance (ESG) goals. The deployment of smart technologies such as real-time sensors, data analytics, and automated equipment enables companies to monitor their environmental footprint with unprecedented accuracy.
By using these tools, they can precisely track emissions, manage water consumption more effectively, and ensure responsible land use, thereby significantly enhancing their sustainability credentials. This increased transparency and data-driven decision-making can also help in securing international investment and meeting global sustainability standards.
It must be noted that digitization in the mines is not just a buzzword; it’s a powerful tool that will enable greater transparency and accountability in our sustainability efforts. By collecting and analyzing real-time data on environmental parameters, we can identify areas for improvement and implement targeted measures to reduce our carbon footprint and promote a more robust circular economy.
The report concludes that by embracing this digital leap, the Indian mining and metals sector can not only become more globally competitive but also lead the way in sustainable resource management, securing a greener future for the industry.
