The Union Ministry of Earth Sciences has asked Gujarat National Law University (GNLU) to prepare two draft laws that will lay the guidelines for deep sea mining in the Indian Ocean off India’s territorial waters, and in Antarctic Ocean. The draft laws will be called ‘Deep Seabed Mining Act’, and ‘Antarctica Act of India’. The Indian Ocean seabed is rich in precious metals and can yield natural resources of great value. US, China, Japan, Russia and South Korea lead this race for the natural wealth that lies untapped beneath the seabed. So far, India has done little for commercial exploration of the seabed despite excellent opportunities to tap nearly 1.5 million sq km of sea floor beyond its territorial waters.
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