The Union Cabinet, led by Prime Minister Narendra Modi, has approved a Rs 1,500 crore incentive scheme to enhance recycling capacity for extracting and producing critical minerals from secondary sources. The move comes under the framework of the National Critical Mineral Mission (NCMM).
With new mining projects and overseas acquisitions expected to take time, the government views recycling as an immediate step to strengthen domestic capacity and build a resilient supply chain for critical minerals. The scheme is designed to reduce dependence on imports and secure key resources needed for India’s growing industries.
Set to run for six years, from FY2025-26 to FY2030-31, the initiative will support the recycling of e-waste, lithium-ion battery scrap, and other materials like catalytic converters from end-of-life vehicles. It will be open to both large recycling firms and smaller entities, including start-ups, with one-third of the total outlay reserved specifically for smaller players.
