NCMM Will Reduce Dependence On Other Countries For Essential Minerals: President

President Droupadi Murmu on Wednesday said the government is working on "mission mode" on another major sector besides semiconductors, with the National Critical Mineral Mission aimed at reducing dependence on other countries for essential minerals.

Last year, the government approved ₹16,300-crore National Critical Mineral Mission (NCMM) to promote exploration of critical minerals within the country and at offshore locations.

Addressing a joint sitting of Parliament, signalling the start of the Budget session, she said: "Apart from chips, there is another major sector for which my government has started working in mission mode. Through the National Critical Mineral Mission, dependence on other countries for essential minerals is being reduced."

The President's remarks underscore the country's strategic push to secure supplies of critical minerals like lithium, cobalt, nickel and rare earth elements, important for electric vehicles, green energy, defence and high-tech manufacturing.

NCMM aims to encourage Indian public sector enterprises and private sector companies to acquire critical mineral assets abroad and enhance trade with resource-rich countries. It also proposes development of stockpile of critical minerals within the country.

Critical minerals are essential for a country's economic development and national security, and their lack of availability or concentration in a few geographical locations can lead to supply chain vulnerabilities.