According to owners of VV Mineral, Vaikundarajan and V Subramanian the mining industry has received a negative connotation in business, which makes all their activities seem illegitimate. It is not easy to manage such huge natural reserves, and all these controversies just make things worse for the people involved in the mining business.
VV Minerals feels that India has huge reserves of heavy minerals like Ilmenite, Rutile, Garnet, Zircon, Leucoxene, Sillimanite, and radioactive minerals like monazite. VV Mineral, mining has been extracting some of these through their mining activities, which are exported not only for their benefits but also for the nations benefit. But Tamil Nadu government has banned beach mining completely. This is affecting not only VV Minerals, but 20 small and big beach mineral companies. Combining the profits of all, about Rs. 1,800 crore of mining profits are lost by the nation.
Roughly, Rs. 300 crore of state revenue is lost because of this negligence observed by the Government. 50,000 people remain unemployed and have lost their livelihood. People are completely reliant on this industry for their living.
The international markets have lost their trust and Indian mining companies have lost their credibility which took decades to be built. India has become an unstable market for them, due to which other nations are flourishing. The government does not realize this now.