India's Critical Minerals Mission: Strong Direction, Slow Execution

India's National Critical Minerals Mission, launched in August, is strategically significant but faces execution hurdles. Vanessa Lacayo from Novasensa highlights the importance of clarity in execution frameworks and quicker reviews. With government incentives for rare earth magnet production, streamlined implementation and industry engagement are crucial for mission success.

India's National Critical Minerals Mission is making commendable strides with strong directional goals. However, it currently encounters executional delays, according to Vanessa Lacayo, COO of Novasensa, in her interview with ANI.

Novasensa, which specializes in recovering rare earth minerals from e-waste through sustainable processes, views this mission as central to securing essential materials for electronics and advanced manufacturing. Despite the recent Rs7,280 crore incentive package for rare earth magnet production, Lacayo emphasizes the necessity for a clearer engagement model with the industry and timely execution.

Lacayo points out the complexity involved in the mission, particularly the challenging separation of rare earth elements and the required downstream capabilities. Partnering with institutions like IIT ISM Dhanbad, Novasensa advocates for collaborative efforts to mitigate risks. Streamlined review processes and improved funding clarity are deemed essential, especially for startups facing international competition.

(With inputs from agencies.)