A Strategic Leap in India’s Mineral Security

30/01/2025

The Union Cabinet's approval of the National Critical Mineral Mission (NCMM) marks a transformative step towards securing India's mineral future. With an allocated expenditure of Rs 16,300 crore and anticipated investments of Rs 18,000 crore from state-owned enterprises and others, the mission is poised to redefine India's approach to critical minerals, which are vital for the country's technological and economic advancement. The NCMM's holistic strategy encompasses the entire value chain, from exploration to recycling. By intensifying the search for critical minerals both domestically and offshore, India aims to reduce its dependency on imports. The mission's focus on fast-tracking regulatory approvals will likely streamline the often cumbersome processes that have historically hindered mineral project developments.
Offering financial incentives for exploration and promoting the recovery of minerals from overburden and tailings are commendable steps. These measures not only enhance resource efficiency but also align with sustainable practices by minimizing environmental impact. Additionally, the establishment of mineral processing parks and a Centre of Excellence on Critical Minerals signals a commitment to fostering innovation and research in critical mineral technologies. The mission's encouragement of Indian PSUs and private companies to acquire mineral assets abroad is a strategic move. By enhancing trade relations with resource-rich countries, India can ensure a steady supply of essential minerals. The development of a national stockpile further fortifies this strategy, providing a buffer against global supply chain disruptions.
Adopting a whole-of-government approach, the NCMM will
collaborate with various ministries, public sector undertakings, private entities, and research institutions. Such a united effort is crucial for the mission's success, ensuring that diverse expertise and resources are harnessed effectively. The National Critical Mineral Mission is a forward-thinking initiative that addresses both current and future needs. By securing critical minerals, India not only boosts its technological capabilities but also strengthens its geopolitical standing. As the mission unfolds, its success will depend on seamless execution, robust collaboration, and a steadfast commitment to sustainable development.

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