Union Cabinet approves National Critical Mineral Mission to boost India’s resource access

The Union Cabinet has approved the National Critical Mineral Mission (NCMM), aimed at boosting India's access to critical mineral resources globally. This initiative encourages both public and private sector companies to acquire critical mineral assets abroad and enhance trade with resource-rich nations. The mission, with an investment of ₹16,300 crore and expected PSU investments of ₹18,000 crore, is set to strengthen India’s technological capabilities, especially in the global competition over Artificial Intelligence (AI).

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The NCMM, which spans seven years with an outlay of $3.92 billion, seeks to make India self-reliant in critical minerals essential for sectors such as electronics, telecommunications, transport, and defence. It includes efforts to develop a stockpile of these minerals within India. The mission will cover all stages of the mineral value chain, from exploration and mining to processing and recovery from end-of-life products.

In addition to intensifying domestic exploration and offshore ventures, the NCMM will introduce a fast-track regulatory approval process for critical mineral projects. Financial incentives will also be offered to encourage exploration and mineral recovery from overburden and tailings.

India has identified 30 critical minerals, including lithium, cobalt, copper, and rare earth elements, necessary for diverse industries such as defence, agriculture, energy, and pharmaceuticals. The mission aims to ensure a steady supply of these vital resources for India’s growth and technological progress.