NEW DELHI | Jun 01, 2016: India will soon figure among the best nations in terms of availability of data for mineral exploration , following the defence ministry's move to lift restrictions on dissemination of digital data that had discouraged private investment in the sector.

The ministry has relaxed, with certain riders, restrictions imposed by it in a circular issued in 1969 that prohibited sharing of digital details for security reasons, a senior mines ministry official said.

"With the defence ministry removing restrictions and the mines ministry preparing to upload about 6,000 digitised reports pertaining to mines, India will be on a par with the best in the world," the official said, requesting not to be identified.

The digital map of more than 98% of the country is available on a desired scale, but it is accessible only to government agencies and has not been made public. So far, India has been able to carry out only 10% regional mineral exploration while countries such as Australia, which have similar geological endowment, have completed 100% of exploration.

The relaxation from the defence ministry will benefit the government's new mineral exploration policy under which it proposes to offer large tracts of land to private and public explorers. The policy proposes to incentivise explorers in case reserves are established and indemnify them when reserves are not found.

(Source: http://economictimes.indiatimes.com/)