Union Minister G Kishan Reddy
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th-online Administrator
Mines Minister G Kishan Reddy stated on Thursday that the manufacturing of permanent magnets will start by the end of this yr with the Production Linked Incentive (PLI) scheme.
The Minister highlighted that India is presently 95 per cent depending on imports of important minerals and underscored the urgency of constructing a resilient, self-reliant ecosystem throughout exploration, extraction, processing, recycling and superior manufacturing.
Addressing an occasion on the Indian important minerals panorama, collectively organised by FICCI and the Mines Ministry, Reddy introduced that the manufacturing of permanent magnets within the nation will start by the end of this yr with the PLI scheme of ₹7,280 crore.
“4 States—Andhra Pradesh, Odisha, Maharashtra and Gujarat—have been recognized for establishing important minerals processing items to enhance home worth addition and scale back import dependence. Moreover, 143 coal mines have been recognized beneath mine closure actions, to be accomplished by 2028, with a give attention to sustainable transition and useful resource optimisation,” he added.
The federal government is working in reform categorical mode for the important minerals sector to scale back import dependence and enhance home manufacturing. “Central authorities together with State governments, and all stakeholders, are dedicated to working in unity to speed up reforms within the important minerals sector,” he emphasised.
The Minister added that 9 Facilities of Excellence (CoE) have been recognized to bolster R&D, innovation and talent growth within the sector. Work has additionally commenced beneath the Nationwide Important Minerals Mission with an outlay of ₹32,000 crore.
The federal government is working to additional strengthen international partnerships for abroad asset acquisition for mineral exploration, which displays the rising worldwide confidence in India’s mineral technique and opens vital alternatives for collaboration, added Reddy.
The Minister urged business stakeholders to put money into superior applied sciences, city mining, recycling and international asset acquisition to guarantee India’s emergence as a trusted and self-reliant chief within the international important minerals ecosystem.
The federal government, he acknowledged, can also be supporting the business by exempting import obligation on importing of uncooked supplies for important minerals and for this separate fund has been created. To additional enhance the sector, Centre is supporting the Nationwide Mineral Exploration Belief.
Ed Jager, Minister (Business) on the Excessive Fee of Canada in India, whereas highlighting the significance of worldwide collaboration and resilient provide chains emphasised on international collaboration.
“Important minerals at the moment are strategic belongings shaping the worldwide economic system. Canada intends to be a steady and accountable companion for India as we deepen cooperation throughout exploration, processing and resilient provide chains,” he added.
Printed on February 19, 2026
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