India is set to launch a National Critical Mineral Stockpile (NCMS) to secure rare earth elements vital for green technologies, following China’s continued export restrictions, The Times of India reported. The programme aims to build a two-month strategic reserve and encourage participation from private players, officials said.
Rare earth elements—17 chemically similar minerals—are essential for producing advanced technologies, particularly rare earth magnets used in electric vehicles, wind turbines and other clean energy applications. The initiative aligns with the government’s earlier approval of a ₹7,300 crore incentive scheme to boost domestic rare earth magnet production, targeting 10,000 tonnes over five years.
Under the National Critical Minerals Mission, ₹500 crore has also been allocated to ensure supply continuity and secure minerals for domestic use. Industry experts noted that despite initial signs of easing, China continues to limit rare earth magnet exports, while U.S. President Donald Trump has threatened a 100% tariff on Chinese imports in response.
India holds an estimated 7.23 million tonnes of rare earth oxide within 13.15 million tonnes of monazite deposits across Andhra Pradesh, Odisha, Tamil Nadu, Kerala, West Bengal, Gujarat and Maharashtra. The Mines Ministry has completed five rounds of auctions for 55 critical mineral blocks, allocating 34, and launched a sixth round last month to auction additional blocks.
The strategic stockpile is expected to safeguard India’s supply chain, boost domestic production and reduce dependence on imports amid intensifying global competition for rare earth resources.