Union Cabinet on Wednesday Approved ‘National Critical Mineral Mission’ to build a resilient Value Chain for critical mineral resources vital to Green Technologies, with an outlay of Rs.34,300 crore over seven years. These minerals are the backbone of high-tech industries, clean energy, and national security, making their availability crucial for India’s long-term economic and strategic ambitions.
Critical minerals such as lithium, cobalt, and rare earth elements are indispensable for emerging technologies, including electric vehicles, renewable energy storage, and advanced defense systems. Recognizing this, the government has intensified its efforts to develop a resilient supply chain, ensuring India’s independence from volatile global markets. By encompassing all stages of the value chain—from exploration to recycling—the mission aims to create a robust ecosystem that supports mineral security while boosting domestic industries. A key highlight of the mission is its focus on fast-tracking regulatory approvals for mining projects, promoting mineral recovery from waste, and incentivizing exploration. These measures will significantly reduce India’s reliance on imports while creating economic opportunities within the country. The establishment of mineral processing parks and Centres of Excellence on Critical Minerals further underlines the government’s commitment to innovation and sustainability in the sector. The move to encourage Indian PSUs and private companies to acquire mineral assets abroad is a strategic step to secure long-term supplies. Initiatives like KABIL’s lithium exploration in Argentina reflect India’s proactive stance in securing critical resources globally. Additionally, eliminating customs duties on critical minerals in the 2024-25 Union Budget will make these essential resources more accessible, encouraging industries to set up processing facilities within India. However, challenges remain. The success of the mission will depend on its effective implementation, addressing environmental concerns, and ensuring that mining activities do not disrupt local ecosystems or communities. Moreover, sustained investments in research and development will be crucial for India to develop indigenous technologies for mineral processing and recycling. With global demand for critical minerals soaring, India’s decisive action to secure its supplies is both timely and necessary. The National Critical Mineral Mission, if executed effectively, will not only bolster India’s industrial and technological capabilities but also position the country as a key player in the global critical minerals landscape. By reducing dependence on imports and fostering domestic innovation, India is taking a bold step toward economic self-reliance and energy security.
