Prime Minister Narendra Modi on Thursday said that the National Critical Minerals Mission, approved by the Cabinet, aims to reduce import dependence, strengthen domestic value chains, and support India's 'Net Zero by 2070' goal.
Responding to an article by Union Minister G Kishan Reddy on the National Critical Mineral Mission (NCMM), PM Modi posted on X: “Union Minister Shri @kishanreddybjp elaborates on how the National Critical Minerals Mission aims to reduce import dependence, strengthen domestic value chains, and support India's 'Net Zero by 2070' goal.”
The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the launch of the mission with an outlay of Rs 16,300 crore and an expected investment of Rs 18,000 crore by public sector undertakings (PSUs).
Union Minister for Information and Broadcasting Ashwini Vaishnaw briefed the media, stating that the mission aims to reduce dependence on critical mineral imports and ensure self-reliance.
The mission will cover all stages of the value chain, including exploration, mining, beneficiation, processing, and recovery from end-of-life products. It will intensify exploration within the country and in offshore areas, while also creating a fast-track regulatory approval process for critical mineral mining projects.
The mission will offer financial incentives for exploration and promote the recovery of minerals from overburden and tailings.
As part of the Atmanirbhar Bharat initiative, the Indian government has undertaken initiatives to address challenges in the critical minerals sector, recognising the essential role of these minerals in high-tech industries, clean energy, and defence.
Finance Minister Nirmala Sitharaman had announced the mission in the Union Budget for 2024-25 on 23 July, aiming to establish an effective framework for India's self-reliance in the sector. It encourages Indian PSUs and private sector companies to acquire critical mineral assets abroad and enhance trade with resource-rich countries, along with developing a stockpile of critical minerals within India.
The mission also includes provisions for setting up mineral processing parks, supporting recycling, promoting research in critical mineral technologies, and establishing a Centre of Excellence. It will adopt a whole-of-government approach, collaborating with relevant ministries, PSUs, private companies, and research institutions.
The Mines and Minerals (Development and Regulation) Act, 1957, was amended in 2023 to facilitate exploration and mining of critical minerals. The Geological Survey of India (GSI) has undertaken 368 exploration projects over the past three years, with 195 projects currently underway in FY 2024-25. For FY 2025-26, GSI plans 227 projects for various critical minerals.
Additionally, the Ministry launched the Science and Technology – Promotion of Research and Innovation in Start-ups and MSMEs (S&T PRISM) programme in 2023, which funds start-ups and MSMEs to bridge the gap between R&D and commercialisation.
KABIL, a joint venture of the Ministry of Mines, has acquired 15,703 hectares in the Catamarca province of Argentina for lithium exploration. The Indian government has also removed customs duties on most critical minerals in the Union Budget 2024-25, increasing the availability of these minerals and encouraging the setup of processing facilities in India.
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