𝐒 𝐉 𝐄𝐗𝐈𝐌 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬

“Indirect Tax I Indirect Tax Litigation I Customs & FTP I Central Licensing I Arbitration I Advisory”

Dated: 06.02.2025

Securing India’s supply chain for critical minerals

The National Mineral Policy (NMP) 2019, formulated by the Government of India, aims to promote sustainable mining practices while ensuring the optimal utilization of mineral resources. It emphasizes ease of doing business, environmental protection, and community welfare in mining operations.

Key highlights include:

• Regulatory Reforms: A transparent and streamlined process for granting mineral concessions, strengthening enforcement mechanisms, and integrating e-governance.
• Sustainable Development: Encourages scientific mining methods, infrastructure development, and responsible mine closures to protect the environment and biodiversity.
• Foreign Investment & Trade: Focus on value-added mineral exports, aligning foreign trade policies with domestic needs, and attracting FDI.
• Research & Technology: Promotes innovation in mineral exploration, deep-sea mining, and mineral processing technologies.
• Social Responsibility: Ensures the welfare of project-affected persons, tribal communities, and mine workers through rehabilitation, resettlement, and benefit-sharing via District Mineral Foundations (DMF).

The Union Cabinet has approved the National Critical Mineral Mission (NCMM) with a total outlay of ₹34,300 crore over seven years, aiming to build a resilient value chain for critical mineral resources essential to green technologies.

Key Details of the Mission:

• Financial Allocation: The mission will be implemented by the Ministry of Mines from FY 2024-25 to FY 2030-31, with ₹16,300 crore allocated for budgetary support and an additional ₹18,000 crore expected from public sector undertakings (PSUs) and other entities.
• Comprehensive Value Chain Coverage: NCMM will encompass all stages of the critical mineral value chain, including exploration, mining, beneficiation, processing, and recovery from end-of-life products.
• Domestic Exploration and Production: The mission aims to intensify the exploration of critical minerals within India and its offshore areas, establishing a fast-track regulatory approval process for mining projects. Financial incentives will be provided for exploration and the recovery of minerals from overburden and tailings.
• International Collaboration: NCMM encourages Indian PSUs and private sector companies to acquire critical mineral assets abroad and enhance trade with resource-rich countries. It also proposes the development of stockpiles of critical minerals within the country to ensure supply security.
• Infrastructure and Research Development: The mission includes provisions for setting up mineral processing parks, supporting the recycling of critical minerals, and promoting research through the establishment of a Centre of Excellence on Critical Minerals

This initiative is a significant step towards securing India’s supply chain for critical minerals, which are vital for high-tech industries, clean energy, and defense sectors.

In case you face any issues related to Indirect Tax-Customs, GST, Foreign Trade Policy (FTP), Arbitration matters and Central Licensing and related advisory matters in India then please feel free to get in touch with SJ EXIM Services.

We offer Legal advice and litigation support in matters related to Indirect Tax-Customs, FTP, other Indirect Tax matters & Arbitration law, all sorts of Central licensing and related matters. Come and explore the new way of doing business with us!

Source: Ministry of Mines, Govt of India

Connect with us for more-

@ Team S J EXIM SERVICES, New Delhi, IN

CP: Ms. Shubhra Jha, Founder

Tel: +91-11-4999 2707 I +91-9999005693

Web: www.sjexim.services

EMAIL: operations@sjexim.services  I shubhra@sjexim.services

Facebook: www.facebook.com/sjeximservices

LinkedIn: https://www.linkedin.com/company/90794255/admin/feed/posts/

YouTube: https://www.youtube.com/@sjeximIndia

Subscribe our WhatsApp Channel: https://whatsapp.com/channel/0029VaTxDT8JZg4CHEOSoK47

Subscribe our Telegram Channel: https://t.me/sjeximindia

Disclaimer:

1. The views expressed are based on the interpretation of the relevant information/documents, applicable law, and government policy and there is no assurance that a court or tribunal or regulatory body or other governmental authority may not interpret it differently.

2.  We are not responsible for updating or revising this article on account of any change in law or interpretation thereof or a change in events or circumstances informed or occurring after the date of this article unless specifically requested for it.

3. Our advice should not be taken or used out of context or reproduced for any other purpose or transaction. Views expressed in this update are strictly personal, based on our understanding of the underlying law.

4. We are not responsible for any injury, loss or cost arising to any person who refers to this update and acts or refrains from any act accordingly. We would suggest that detailed legal advice must be sought before relying on this update.

NOTE: All Inquiries/Consulting/Advisory/Assignments are solicited via email only & it is a PAID Service only!

#LawFirm #Lawyers #Arbitration #ArbitrationLaw #ADR #India #Law #LegalUpdates #NewDelhi #IndirectTax #IndirectTaxLaw #CBIC #FTP #CommercialLaw #CorporateLaw #ConstitutionalLaw #BarandBench #InternationalArbitration #InternationalCommercialArbitration #WTO #TBT #QCO #BIS #UnitedNations #UNO #DutyDrawback #CustomsAct #Advisory #ProBonoConsulting #IndiaCustomsAtWork #Facebook #Twitter #Instagram #LinkedIn #Tumblr #WhatsAppChannel #WhatsApp #YouTubeChannel #YouTube #KPMG #Deloitte #ErnstandYoung #GrantThornton #EY #PWC #BDO #Consulting #SettlementCase #DGFT #CII #FICCI #IndianChamberofCommerce #InternationalChamberofCommerce #PHDChamberofCommerce #FTP #FTP2023 #Compliance #CDSCO #HighCourts #SupremeCourt #DPIIT #CESTAT #CAAR #AdvanceRuling #CEX #Appeal #Refunds #IGSTRefund #Google #GoogleSearch #GoogleSEO #AIFTA #FTA #ASEAN #CustomsAdvanceRuling #JICA #JETROIndia #KITAIndia #KOTRAIndia #Multinationalcompanies #JapaninIndia #KoreainIndia #GovtofIndia #MinistryofcommerceIndia #TradeDeals #FTA #RulesofOrigin #SJEXIMServices #NewDelhi #India #Ministryofsteel #SteelQCO