India to start rare earth stockpile in 2025
India is gearing up to launch its first National Critical Mineral Stockpile (NCMS) in 2025, creating a two-month backup of rare earth elements—those metals that power electric vehicles, wind turbines, and other green tech.
The move is a direct response to China tightening exports of these crucial materials.
NCMS is part of bigger National Critical Mineral Mission
The NCMS is part of the bigger National Critical Mineral Mission (NCMM), which has a ₹34,300 crore budget and aims to make India less dependent on imports.
Over the next seven years, the focus will be on exploring, mining, processing, and recycling these minerals right here at home.
₹7,300 crore set aside for rare earth magnets
To kick things off, ₹7,300 crore is set aside as incentives for producing 6,000 tons of rare earth magnets in five years.
Another ₹500 crore will help secure supply chains.
Already, 34 out of 55 auctioned mineral blocks have found new owners—showing real momentum.
India has about 7.23 million tons of rare earth oxide
India actually has about 7.23 million tons of rare earth oxide sitting mostly untouched because extraction tech hasn't kept up.
With NCMS rolling out in 2025, the hope is to unlock these reserves so India can fuel its own clean energy ambitions—and rely less on imports for future-ready tech.