India to set the ball rolling on National Critical Mineral Mission with ₹15,000-20,000 cr outlay

India is looking at a probable ₹15,000-20,0000 crore outlay push for the National Critical Minerals Mission (NCMM) aimed at securing strategic resources like lithium, both within the country and overseas. The Mission is likely to be tabled for Cabinet approval tomorrow, highly-placed sources told businessline.
Apart from lithium, the cornerstone of the country’s switch to greentech (including EVs, semicons and other advanced tech), there are 23-odd minerals that are identified as critical which include molybdenum, platinum group of elements, vanadium, nickel, niobium, rare earth elements, and others.
The mission components are likely to cover segments such as exploration and mining activities within the country – to at least 1,200 and the auction of nearly 100 critical mineral blocks. It also aims to ramp up off-shore mining, acquire offshore resources and also earmark funds to support critical mineral exploration activities.
In 2024-25, the Geological Survey of India (GSI) has undertaken 195 critical mineral exploration projects while 40-odd critical mineral blocks have been put up for auction.
Financing options and fiscal incentives are being worked out (including for junior exploration and mining companies). “The government also wants to enable participation of institutions such as the World Bank, Asian Development Bank, and the International Monetary Fund etc,” a senior official said.
Setting up of recycling facilities, R&D push and enhancing human resource development (skill-set training) and critical mineral Processing parks is under consideration too. Work is on for making available trade and markets – through bilateral agreements including supply arrangements being made in ongoing FTA discussions.
“Regulatory changes to encourage optimum recovery of critical minerals from sources such as overburden, tailings, fly ash, red mud, existing mines are under discussion,” a second official told businessline.
The Critical Mineral Mission was first announced in the Budget, on July 23 last year, after the Modi 3.0 came to power.
Mission activities are likely to be coordinated and reviewed by an Empowered Committee, chaired by the Cabinet Secretary, and members of relevant stakeholder ministries. This committee will also give broad directions for investment in foreign countries.
Proposed deliverables between FY25 and FY31, as per an initial assessment, included having close to 50 overseas critical mines or blocks – divided between PSUs and private entities in equal numbers, having 1000-odd patents (as part of strengthening the value chain), a skilled man-power base of 10,000, at least three-five processing parks and a similar number of centre of excellence.
“These targets will be reworked as per finalised scheme guidelines,” another official said.