India to Get Its Own Mineral Trading Exchange: Kishan Reddy

India will soon set up its own mineral trading exchange, modeled on the London Metal Exchange, Union Coal and Mines Minister G Kishan Reddy announced on Saturday. Speaking to the media here, Reddy said the exchange would operate under SEBI norms and serve as a transparent platform for industries, traders, and stakeholders to benefit from better price discovery.

“The mineral exchange has been included in recently-passed legislation, and guidelines will be issued shortly,” he said. On global trade, Reddy downplayed the impact of US tariffs on India’s coal industry, noting that India exports only a small quantity of aluminium to America.

Also Read: PM Modi Vows to Protect Farmers Amid US Tariff Tensions

Highlighting the government’s efforts to cut dependency on imports, Reddy said coal imports had been substantially reduced, saving the nation around ₹60,000 crore in foreign exchange. He urged private steelmakers to recalibrate their boilers, which are currently designed for imported coal, so they can efficiently use Indian coal instead.

Reddy also said India is now looking at coal and iron ore exports while ramping up production capacities. “Prime Minister Narendra Modi has recently directed that iron ore be exported,” he noted, adding that aluminium production would also be expanded.

The move to create a mineral exchange is seen as a major reform to integrate Indian mineral markets with global benchmarks.

Also Read: Myanmar’s Acting President Myint Swe Dies Amid Global Tariff Tensions