In a strategic move to bolster economic development and enhance self-reliance, the Indian government has approved the National Critical Minerals Mission (NCMM) with an investment of Rs.34,300 crore. This ambitious initiative, announced on January 29, 2025, aims to promote the exploration and sustainable management of critical minerals essential for high-tech industries, clean energy, and defense applications.
The approval was granted by the Union Cabinet, chaired by Prime Minister Narendra Modi, during a meeting that underscored the government’s commitment to reducing dependence on imported minerals. Minister for Information and Broadcasting Ashwini Vaishnaw highlighted that the mission is a crucial step towards achieving the vision of Atmanirbhar Bharat (self-reliant India) by ensuring a steady supply of critical minerals through domestic exploration and production.
The NCMM will cover all stages of the mineral value chain, including exploration, mining, processing, and recycling. It aims to create a fast-track regulatory approval process for critical mineral mining projects, thereby streamlining operations and encouraging investments in this vital sector. The mission also proposes financial incentives for companies engaged in critical mineral exploration and recovery from waste materials.
Key Objectives of the National Critical Minerals Mission:
- Intensified Exploration: The mission will focus on enhancing domestic exploration efforts for critical minerals both on land and offshore. This includes establishing a framework to facilitate quicker approvals for mining projects.
- Financial Incentives: The government plans to offer financial support to encourage public sector enterprises (PSEs) and private companies to invest in critical mineral assets domestically and internationally.
- Strategic Stockpiling: Developing a stockpile of essential minerals within India is part of the mission’s strategy to ensure resource security and mitigate supply chain vulnerabilities.
- Collaboration with Private Sector: The initiative encourages partnerships between public sector enterprises and private companies to explore opportunities in resource-rich countries, thus enhancing trade relations.
- Research and Development: The NCMM will support research initiatives aimed at advancing technologies related to critical minerals, fostering innovation in extraction and processing methods.
- Recycling Initiatives: Emphasizing sustainability, the mission will promote recycling efforts to recover valuable minerals from end-of-life products and waste materials.
The government’s commitment to this mission reflects its recognition of the indispensable role that critical minerals play in modern technology and national security. With global demand for these resources increasing due to the rise of electric vehicles, renewable energy systems, and advanced electronics, India’s proactive approach positions it favorably in the global mineral market.
Moreover, recent policy reforms have set the stage for this initiative. Amendments to the Mines and Minerals (Development and Regulation) Act aim to facilitate smoother operations within the mining sector. Additionally, customs duties on most critical minerals have been eliminated in an effort to improve domestic availability.
Experts view this mission as a catalyst for economic growth and technological advancement in India. By establishing a robust framework for critical mineral management, India can reduce its reliance on imports while simultaneously enhancing its position as a key player in the global mineral supply chain.
As this initiative unfolds over the next seven years with a projected outlay of Rs.34,300 crore, it is expected to create numerous job opportunities, stimulate local economies, and drive innovation across various sectors reliant on critical minerals. The NCMM not only represents a significant investment in India’s future but also signals a commitment to sustainable development practices that align with global environmental goals.
