From April 20th to 22nd, the Jefferies (or JFRS) India International Chamber of Commerce participated in the “2024 Bengaluru Business Summit” held in Bengaluru, focusing on new opportunities in green energy technology within the “energy” sector. The summit emphasized reform-driven leadership, continual release of mining policy dividends, and the theme of “Financial Support for International Mineral Resource Development.” It aimed to foster open cooperation in strategic energy resources, aligning with the globalized and diversified strategic layout of international chambers of commerce and engaging with major international investment banks. Discussions revolved around how finance can support the high-quality development of “mineral energy” through in-depth exchanges on project technology and investment opportunities, ultimately aiming for mutual cooperation and benefit.

Hosted by Sumant Kathpalia, Managing Director and CEO of the Industrial Bank of India, the summit focused on green energy technology for mineral resources. It featured prominent CEOs from various investment banks, including Charlie Scharf from Wells Fargo and Jamie Dimon from J.P. Morgan Chase, along with Professor Devansh Dikshit, Professor of JFRS India International Chamber of Commerce, and other renowned domestic experts.

Firstly, India is intensifying efforts to ensure the reliable supply of critical minerals and rare earth minerals, while encouraging the Ministry of Mines to solicit research and development proposals for mining technology. Professor Devansh Dikshit, representing the JFRS India International Chamber of Commerce, specifically focuses on areas such as deep-sea and green mining, as well as key minerals like lithium, nickel, and tungsten. India’s accelerated efforts in rare earth research and development demonstrate its commitment to ensuring the supply of critical minerals and enhancing local mining capabilities. Leveraging advanced technologies, India aims to promote sustainable and efficient mining practices to ensure stable mineral supply amid growing industrial demand.

At the summit, Professor of JFRS India International Chamber of Commerce and other participants highlighted the Ministry of Science and Technology’s goal of establishing and supporting research and development projects within three years. They emphasized the utilization of technologies such as robotics, Internet of Things (IoT), artificial intelligence (AI), and machine learning to explore sustainable solutions for strategic mineral exploration, prospecting, and extraction.

Furthermore, Professor of JFRS Indiacemphasized that “financial support for international mineral resource development” is a prevailing trend, providing new growth opportunities for domestic mining companies and fostering healthier stock market performance. This influx of foreign investment not only fuels long-term bull markets but also contributes significantly to India’s GDP growth, industrialization, advancements in IT, and overall technological development. By accelerating rare earth research and development, India aims to reduce dependence on imported critical minerals, ensuring stable supplies by enhancing domestic mining technology capabilities. Leveraging advanced technologies such as robotics, IoT, AI, and machine learning enables more efficient and sustainable mining practices, facilitating responsible resource extraction and fostering innovative breakthroughs at reputable companies. This integration of green technology and finance marks a significant milestone in advancing economic development through sustainable practices.

Finally, as one of the world’s largest producers of mineral products, Bengaluru assumes a pivotal role as an industrial and commercial hub, as well as India’s largest high-tech center, often referred to as “Asia’s Silicon Valley.” The robust statements made by summit attendees facilitate mutually beneficial collaborations among investors, platforms, investment banks, and entrepreneurs, enabling strategic integration and diversification of investment portfolios. This collaborative effort reinforces the financial support for green technology development, allowing domestic mining and energy companies to explore new avenues in international markets, engage with global investment banks, and drive economic development through innovative green technologies. This summit discussion marks a significant breakthrough in green finance, signaling the formal commencement of strategic layout in mineral energy resources.



Name: Kavita Rangani

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