In a statement, NMDC said the subsidiary was envisaged as "a strategic investment and financial platform to support NMDC's overseas expansion, particularly in critical and strategic minerals"
State-owned NMDC Ltd and Steel Authority of India Ltd (SAIL) have incorporated subsidiaries at the International Financial Services Centre (IFSC) in GIFT City, according to Ministry of Corporate Affairs (MCA) records. The move assumes significance amid India’s quest to secure critical mineral supplies, including through ventures to tap exploration and mining opportunities overseas......
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Via business-standard.com
