India’s National Critical Mineral Mission, cleared by the Cabinet on 29 January, 2025, with a financial outlay of Rs 16,300 crore and additional funding support of Rs 18,000 crore to be raised from PSUs, aims to reduce import dependence, acquire strategic minerals overseas, and boost domestic exploration.

The total investment in the Mission stands at Rs 34,000 crore, marking the Centre’s largest initiative for greentech and mineral security. The Mission, implemented by the Ministry of Mines from FY 2024-25 to 2030-31, covers 24 critical minerals, including lithium, vanadium, tungsten, molybdenum, platinum group elements, rare earth elements, and potash. “The National Critical Mineral Mission will be implemented under the Ministry of Mines for a period from FY 2024-25 to 2030-31”, said Union Minister for Information and Broadcasting, Ashwini Vaishnaw.

Guidelines for these investments are being developed, alongside government-backed subsidies for mining and infrastructure development. The Mission’s financial structure includes  Rs 4,000 crore earmarked for the Geological Survey of India (GSI) for exploration, Rs 8,700 crore from the National Mineral Exploration Trust (NMET) for securing mineral supplies and overseas acquisitions, and  Rs 1,000 crore from the National Research Fund and other R&D schemes for technological advancements. “In addition to these, a  Rs 2,600 crore Budget support has been sought,” said a senior Mines Ministry official.

Multilateral agencies like the World Bank and the Asian Development Bank have shown interest in partnering with India to set up processing capacities and collaborate on technology.