India Launches National Critical Mineral Mission for Self-Reliance

The Union Cabinet approved the National Critical Mineral Mission to boost self-reliance in critical minerals essential for industries and clean energy. With a Rs.16,300 crore expenditure, the mission will focus on exploration, processing, and international partnerships to secure mineral supplies.

In a significant move toward self-reliance, the Union Cabinet, led by Prime Minister Narendra Modi, has sanctioned the National Critical Mineral Mission (NCMM). The mission will see an expenditure of Rs.16,300 crore, complemented by an anticipated investment of Rs.18,000 crore by public sector units and other bodies.

This mission forms part of the Atmanirbhar Bharat initiative, acknowledging the crucial role critical minerals play in high-tech, clean energy, and defense sectors. Over the past two years, the Indian government has been actively addressing challenges in this sector, and the establishment of the NCMM is a major step forward.

The mission aims to streamline the entire critical mineral value chain, from exploration to processing and recovery from end-of-life products. Financial incentives will be provided to encourage exploration and the development of these minerals. Moreover, the mission will foster international partnerships and aim to create a stockpile of critical minerals domestically, further supporting India's industrial ambitions.

(With inputs from agencies.)