India to Lead Global Critical Minerals Journey, Says Kishan
Kishan Reddy said the government is accelerating reforms in "Reform Express" mode, uniting the centre, states, and stakeholders to cut imports and ramp up domestic output.
Hyderabad: Union coal and mines minister G. Kishan Reddy on Thursday said that the country is making a decisive shift from resource dependency to value creation in critical minerals, positioning India as a prime global destination to safeguard its strategic and economic future.
In his keynote at the second edition of Ficci’s 'Indian Critical Minerals Landscape: Foundation for a Sustainable Future – Empowering Innovation, Growth & Self-Reliance', Kishan Reddy highlighted India's 95 per cent import reliance on these vital resources.
He said the government is accelerating reforms in "Reform Express" mode, uniting the centre, states, and stakeholders to cut imports and ramp up domestic output.
“Over 4,000 exploration activities underway nationwide under National Critical Minerals Mission taken up at a cost of Rs.32,000 crore, fortifying the full value chain to convert resource potential into strategic strength. Nine Centres of Excellence now drive R&D, innovation, and skill-building. Import duties on raw materials stand waived, backed by a dedicated fund and National Mineral Exploration Trust support,” he pointed out
He also announced the production of permanent magnets starting by year-end through a Rs.7,280-crore Production Linked Incentive scheme. Andhra Pradesh, Odisha, Maharashtra, and Gujarat will host Critical Minerals Processing Units for value addition. Additionally, 143 coal mines have been identified for sustainable transitions for waste to value chain, he said.
He said the exploration projects within the country have reached 4,000, besides assisting 41 Notified Private Exploration Agencies, which are fully funded under National Mines Exploration and Development Trust. Only 1400 exploration projects used to work till 2014, he said
Canadian High Commission minister (commercial) Ed Jager called critical minerals "strategic assets shaping the global economy," pledging Canada as a stable partner for India in exploration, processing, and resilient supply chains.
Ficci Task Force Senior Member S. Kishore hailed reforms and auctions as proof of long-term commitment, with industry poised to co-build a competitive ecosystem.
