Underground And On The Edge
Business Today|December 15, 2019
THE DOMESTIC MINING LANDSCAPE IS STARING AT A MAJOR DISRUPTION WHEN AN ESTIMATED 329 MINING LEASES EXPIRE AND NEED TO BE AUCTIONED AT THE END OF THIS FISCAL. THE TARDY PROGRESS OF AUCTIONS SO FAR INDICATES THE CHANGEOVER COULD BE VERY MESSY.
Sumant Banerji
Underground And On The Edge

In his own way, Maruti Chari, 61, is more popular in Usgao, a little village in North Goa, than the local corporator. While the place derives its name from the local word for sugarcane, its major industry and source of employment is iron ore mining. Chari is renowned in the area as the doc-tor of trucks – he can diagnose any problem in a truck merely by sitting in it and driving for 100 metres. His 41-year-old truck repairing centre on National Highway (NH) 748, which connects Belgaum in North Karnataka to Panjim, is one of the landmarks in the area.

But his business took a major hit when the transport business in the area dwindled in the aftermath of a complete ban on mining in Goa in March 2018. Having somehow endured for the last 18 months, Chari says he would have no option but to shut shop and lease out the land if mining isn’t restored by December. “I used to get 50-60 trucks for repair every day. Now I hardly get any,” he says. “Till 2015, I employed 50 people. Now, it’s down to just four. My earning has dropped from ₹ 5 lakh per month to just ₹10,000-12,000. At this rate, I won’t be able to survive much longer. I am just about holding on till December.”

Chari is an example of how the slowdown in the domestic iron ore mining industry is impacting those who are not directly involved in the business. Those who are, are even worse off. Santosh M. Thambi, 39, is staring at bankruptcy after he lost his job as a machine operator with Chowgule and Co. After losing his ₹30,000 a month job with a local miner, Yeshwant R. Satgaonkar often gets suicidal thoughts. Similarly, Sandeep M. Nirlekar, the sole bread earner in a family of five, has already defaulted on a personal loan after losing his employment.

Bu hikaye Business Today dergisinin December 15, 2019 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye Business Today dergisinin December 15, 2019 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

BUSINESS TODAY DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
"Moving to cloud helped us grow❞
Business Today India

"Moving to cloud helped us grow❞

What was the problem you were grappling with?

time-read
1 min  |
November 24, 2024
She's Got Time
Business Today India

She's Got Time

MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP

time-read
3 dak  |
November 24, 2024
RISING STAR
Business Today India

RISING STAR

PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.

time-read
1 min  |
November 24, 2024
Building on a Legacy
Business Today India

Building on a Legacy

WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.

time-read
1 min  |
November 24, 2024
LEADER IN INNOVATION
Business Today India

LEADER IN INNOVATION

AS FEDEX'S PRESIDENT (Middle East, Indian subcontinent and Africa), Kami Viswanathan has a lot on her plate.

time-read
1 min  |
November 24, 2024
WAITING IN THE WINGS
Business Today India

WAITING IN THE WINGS

Here are those who missed out as they have not yet completed a year in office; they'll be strong contenders in 2025

time-read
1 min  |
November 24, 2024
A DECENT PROPOSAL
Business Today India

A DECENT PROPOSAL

IN TODAY'S WORLD OF TRYING TO CREATE AN EQUITABLE SPACE, BOTH MEN AND WOMEN CONTRIBUTE TO THEIR HOUSEHOLDS. WOMEN ARE ENCOURAGED TO HAVE THEIR OWN SAVINGS POOL AND INVESTMENT ROUTINE. GIVEN THIS, HOW SHOULD FUTURE BRIDES APPROACH FINANCIAL PLANNING?

time-read
5 dak  |
November 24, 2024
Women and the STEM Bias
Business Today India

Women and the STEM Bias

EMPOWERING WOMEN IN STEM WILL NOT ONLY BENEFIT INDIVIDUALS, BUT ALSO STRENGTHEN THE ENTIRE INDUSTRY, DRIVING INNOVATION AND PROGRESS.

time-read
3 dak  |
November 24, 2024
ROCKET WOMEN
Business Today India

ROCKET WOMEN

WOMEN IN INDIA ARE NOT ONLY VENTURING INTO SPACE BUT ARE ALSO STARTING TO SPEARHEAD THE COUNTRY'S EFFORTS IN THE GLOBAL SPACE RACE.

time-read
6 dak  |
November 24, 2024
ONE STEP FORWARD
Business Today India

ONE STEP FORWARD

THE NUMBER OF WOMEN INDEPENDENT DIRECTORS IS GROWING STEADILY, BUT IT'S A LONG WAY FROM GENDER PARITY. MUCH MORE NEEDS TO BE DONE TO BREAK THE GLASS CEILING IN BOARDROOMS.

time-read
6 dak  |
November 24, 2024