Mining major Vedanta will definitely look at commercial mining in India after the government eased foreign direct investment (FDI) rules in coal mining, said founder and chairman Anil Agarwal, terming the move as long due. The Cabinet on Wednesday approved 100 percent FDI through the automatic route in coal mining and related activities. Agarwal said the move is a game-changer for India, which has the third-largest coal reserve in the world, and also shows the government's commitment to the coal sector.

"We already run a small coal mine in India and we are the only (private) mining people in India. So we will definitely be interested. Let’s see how fast the government come with the tender and whatever they have in mind,” he said.

Agarwal said he would also request all the major global mining companies such as BHP Billiton and Rio Tinto to look at India. "I am also looking forward at forest clearance which is very important; forest clearance takes years in India,” he further added.

The move will also create many jobs in India as it requires a huge number of people to develop a large coal mine as Coal India has, pointed out Agarwal. "This move will transit into a couple of another 'Coal India' to be developed, which will need lakh of people to develop the mine. It will need a huge amount of people to be employed, to do coal mining and it’s going to develop cheaper power for us which is very important,” he added.

Agarwal further said that Vedanta has not yet considered whether it would want to enter coal mining with a partner. According to him, mines with 100-300 million tonne output capacity will attract commercial interest.

The government has decided to permit 100 percent FDI under automatic route for sale of coal, for coal mining activities including associated processing infrastructure subject to provisions of Coal Mines Act, 2015 and the Mines and Minerals Act, 1957, according to an official statement.