India Launches National Critical Minerals Mission to Bolster Self-Reliance

The Indian government has approved the National Critical Minerals Mission, aiming to explore critical minerals domestically and offshore. The mission focuses on reducing mineral import dependence, offering financial incentives, developing regulatory frameworks, and enhancing trade with resource-rich countries.

The Indian government took a significant step towards resource independence by approving the Rs 16,300-crore National Critical Minerals Mission (NCMM) on Wednesday. The mission was sanctioned by the Union Cabinet under Prime Minister Narendra Modi's leadership.

According to Ashwini Vaishnaw, the minister for information and broadcasting, the NCMM will not only reduce import reliance but will also ensure self-sufficiency in critical minerals. It covers the entire value chain, from exploration to recovery from end-of-life products.

The mission accelerates the exploration of critical minerals, both locally and offshore, and proposes streamlined regulatory processes for mining. Additionally, it offers financial incentives for exploration, promotes resource recovery, encourages asset acquisition abroad, and aims to establish domestic stockpiles.

(With inputs from agencies.)