Union Coal and Mines Minister G Kishan Reddy on Friday said that the critical mineral mission will lead to significant progress in the exploration of critical minerals. 

"The Government of India has launched the National Critical Minerals Mission to promote the exploration and mining of critical minerals both within the country and abroad, as well as to facilitate their import from various nations. We have made imports duty-free for this purpose. The government has initiated this mission with an allocation of Rs 32,000 crore. I firmly believe that in the coming days, a whole-of-government approach will lead to significant progress in this area," Reddy said.

The Government of India launched the National Critical Mineral Mission (NCMM) in 2025 to establish a robust framework for self-reliance in the critical mineral sector. Under this mission, the Geological Survey of India (GSI) has been tasked with conducting 1,200 exploration projects from 2024-25 to 2030-31.

Centre preparing incentives to encourage domestic production of rare earth magnets: Min

The government is preparing fiscal incentives to encourage domestic production of rare earth magnets in the face of recent disruptions caused in their supply, currently dominated by China, Union Minister H D Kumaraswamy said on Friday. The minister for Heavy Industries and Steel also said a scheme is in the works to provide "targeted support" to the industry for its capital as well as operational expenditure, which would help bridge cost gaps, offer relief from high tariffs on key equipment and ensure continuity of supply in the face of rising global restrictions. "The ministry is actively addressing vulnerabilities in critical raw materials. Recognising that rare earth magnets are central to EV motors and currently dominated by Chinese supply, we are preparing fiscal incentives to encourage domestic production.