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India's recent initiative to enhance its capabilities in critical minerals comes amid rising global competition for these essential resources. On January 29, 2025, the Union Cabinet approved the National Critical Mineral Mission (NCMM) with a budgetary outlay of ₹16,300 crore (approximately $2 billion), and an expected ₹18,000 crore investment from public sector undertakings (PSUs) and private companies.

This mission is part of a broader strategy to secure India's supply chain for critical minerals, which are vital for high-tech industries, clean energy, and defence applications.

The mission aims to enhance exploration of critical minerals both onshore and offshore. The Geological Survey of India has already undertaken numerous projects, with plans for over 1,200 exploration projects by 2030-31.

A streamlined regulatory process will be established to expedite approvals for mining projects related to critical minerals.

The initiative will provide financial support for exploration activities and promote recovery of minerals from waste materials.

Plans include developing a strategic stockpile of critical minerals within India to ensure a stable supply chain and reduce dependency on imports.

This mission is particularly significant given India's increasing reliance on imports for critical minerals, which have surged over tenfold in the last decade. For instance, India's imports of lithium alone reached ₹23,171 crore in 2022-23. The NCMM is seen as a crucial step towards achieving self-reliance in critical minerals, especially as global demand continues to rise amid geopolitical tensions and competition for resources.

Prime Minister Narendra Modi has emphasized that the NCMM represents a major step towards self-reliance in critical minerals, which are essential for sectors like semiconductors and electric vehicles. The mission aligns with India's Atmanirbhar Bharat initiative, aiming to build a resilient ecosystem for mineral production through domestic capabilities and strategic international partnerships.

The National Critical Mineral Mission is poised to significantly bolster India's position in the global supply chain of critical minerals, ensuring long-term sustainability and security in this vital sector.

Agencies