New Delhi, Feb.19 (RAHNUMA): India is set to strengthen its position in the global critical minerals ecosystem with a Rs.32,000 crore National Critical Minerals Mission aimed at reducing import dependence and boosting domestic value creation, Union Minister for Coal and Mines G Kishan Reddy announced on Thursday.
Speaking at the second edition of “Indian Critical Minerals Landscape: Foundation for a Sustainable Future”, organised by FICCI in partnership with the Ministry of Mines, the Union Minister said India currently relies on imports for nearly 95% of its critical mineral requirements, underscoring the urgency of building a self-reliant and resilient supply chain.
Highlighting the government’s “Reform Express” approach, Reddy said over 4,000 exploration activities have already been initiated nationwide. Nine Centres of Excellence are being established to promote research, innovation and skill development, while import duty exemptions and dedicated funds are supporting industry growth.
The Minister announced that production of permanent magnets under the Rs.7,280 crore PLI scheme is expected to begin by end of this year. Critical mineral processing units will be set up in Andhra Pradesh, Odisha, Maharashtra and Gujarat to enhance domestic value addition. He emphasised global collaboration, noting India’s efforts to secure overseas mineral assets and strengthen international partnerships.
Officials and industry leaders at the summit highlighted the growing strategic importance of critical minerals in driving manufacturing, clean energy and technological advancement. During the event, FICCI launched a portal on global critical mineral assets and released a joint FICCI – Deloitte report outlining policy recommendations to strengthen India’s mineral ecosystem.
