- विज्ञापन -
New Delhi: On January 30, Prime Minister Narendra Modi announced the Cabinet’s approval of the National Critical Minerals Mission (NCMM), which seeks to lessen India’s reliance on imports, enhance domestic value chains, and contribute to the country’s goal of achieving ‘Net Zero by 2070.’
In response to an article by Union Minister G Kishan Reddy about the NCMM, PM Modi shared on X: “Union Minister Shri @kishanreddybjp elaborates on how the National Critical Minerals Mission aims to reduce import dependence, strengthen domestic value chains and support India’s ‘Net Zero by 2070’ goal.”
The NCMM is set to launch with a budget of Rs 16,300 crore and anticipates an investment of Rs 18,000 crore from public sector undertakings (PSUs). The mission will cover all aspects of the value chain, including mineral exploration, mining, beneficiation, processing, and recovery from end-of-life products.
It aims to boost the exploration of critical minerals domestically and in offshore regions, alongside establishing a fast-track regulatory approval process for mining projects related to these minerals. Financial incentives will also be provided for exploration and the recovery of critical minerals from overburden and tailings.
Critical minerals such as lithium, chromium, nickel, graphite, cobalt, titanium, and rare earth elements are vital for industries like electronics, electric vehicles, renewable energy, defense, and high-tech telecommunications. Currently, the extraction of these minerals is largely controlled by a few nations, particularly China, which poses risks to supply chains amid geopolitical tensions.
India is positioning itself as a key player in developing an alternative supply chain to reduce China’s influence. At present, India relies heavily on imports to satisfy its needs and is also exploring mining opportunities abroad.
The country has formed a partnership with Australia, the leading producer of lithium, which constitutes about 47% of global production. A government-to-government agreement has been established between the Ministry of Mines and the Department of Scientific and Industrial Research (DSIR), focusing on five lithium and cobalt projects currently undergoing feasibility assessments.
In line with the ‘Atmanirbhar Bharat’ initiative and acknowledging the critical importance of these minerals in high-tech industries, clean energy, and defense, the government has launched several initiatives over the past two years to tackle challenges within the critical minerals sector.
