Nath says Mittal’s criticism valid for mining sector

Senior cabinet minister Kamal Nath on Friday, responding to billionaire L M Mittal's stinging remark about India not being prepared for mega investments, said the criticism was valid but only in the context of the mining sector.

The remark, however, had the Orissa government promising early clearances to mega steel projects including that of Mittal.

Mittal had made the remark given the tardy progress on his Rs1-lakh crore projects in Orissa and Jharkhand.

"I think there is a force in his point where mining is concerned. He is talking about the various approvals which are required by the mining sector. So there is a valid point he made which the government has to look at," transport minister Kamal Nath said in New Delhi.

Mittal first announced his intention to set up greenfield plants in the country in 2005 when Nath was commerce and industry minister.

Meanwhile, responding to Mittal's remark, Orissa finance minister P C Ghadai said the there would be opposition for political purposes as it would happen in democracy, but at the same time the government was making all efforts deliver the land whether to Posco or ArcelorMittal and discussions were on for that. He added that the government was trying to overcome the problems.