New Delhi: The Union Cabinet has approved a Rs 1,500 crore incentive scheme under the National Critical Mineral Mission (NCMM) to boost India’s recycling capacity for critical minerals from secondary sources such as e-waste, lithium-ion battery scrap, and end-of-life vehicle parts. 

By fostering both new and existing recyclers, the initiative aims to build 270 kilo tonnes annual recycling capacity, produce 40 kilo tonnes of critical minerals, attract around Rs 8,000 crore in investments, and generate nearly 70,000 jobs — a strategic step to strengthen supply chain resilience and reduce import dependency, according to the government.

Critical minerals are fast becoming the oil of the 21st century, scarce, strategic, and fiercely contested. They are the building blocks of a modern economy.

India has set major climate milestones like cutting the emissions intensity of its GDP by 45 per cent by 2030 (from 2005 levels), sourcing half of its power capacity from non-fossil fuels by the same year, and achieving net-zero emissions by 2070.

Central to meeting these targets is the National Critical Mineral Mission (NCMM) to secure long-term supplies of lithium, cobalt, nickel, and rare earths. Beyond ensuring clean energy and electric mobility, the mission is designed to attract investments, foster innovation, and place India at the centre of global supply chains for the industries of tomorrow, according to the government.

As the world pivots to clean energy and advanced technologies, control over critical minerals has become the new frontier of geopolitics.

In January 2025, India responded with the National Critical Mineral Mission (NCMM), launched for a period of seven years from 2024-25 to 2030-31, with a proposed expenditure of Rs 16,300 crore and an expected investment of Rs 18,000 crore by Public Sector Undertakings (PSUs) and other stakeholders.

It is not merely a mining programme, but a strategic blueprint to secure energy security, drive industrial growth, and cement technological independence. From the lithium that powers electric vehicles to the rare earths vital for defence systems, the National Critical Minerals Mission casts its net wide.

A central target of the National Critical Minerals Mission (NCMM) is to catalyse innovation by supporting and monitoring the filing of 1,000 patents across the critical minerals value chain by FY 2030–31.

The aim is clear: accelerate the development and commercialisation of homegrown technologies vital for India’s energy transition and strategic industries. That momentum is already visible. In a parallel move, the guidelines for setting up a dedicated Centre of Excellence (CoE) under the Mission were cleared on April 6, 2025, marking a key step in advancing India’s critical minerals strategy.

 

 

KARACHI:

The State Bank of Pakistan (SBP) will hold its Monetary Policy Committee (MPC) meeting on September 15, 2025, with most analysts expecting the policy rate to remain unchanged.

According to statement released on Friday, a poll conducted by Topline Securities showed that 72% of market participants anticipate no change in the policy rate, compared to 37% in the previous poll. The sharp rise in expectations for a status quo reflects concerns that recent floods could fuel food and overall inflation in the coming months by damaging crops and disrupting supply chains.

“While 28% are expecting a cut of 25bps and above. Within this, 6% are expecting 25bps cut, 13% are expecting 50bps cut and 9% are expecting 100bps cut,” said Topline Securities.

Historical data underscores the risks. During the 2010-2011 floods, the cultivated area for major crops such as wheat, rice, and cotton declined between 3% and 18%. Rice production fell nearly 30% in FY11, according to the Economic Survey of Pakistan.

“We also expect central bank to maintain status quo in upcoming meet owing to possible inflation risks emanating from recent floods and rising imports,” said Topline Securities.

ISLAMABAD:

Pakistani seafood exporters met with Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry in Beijing and updated him on discussions with their Chinese counterparts as Islamabad intensifies efforts to expand fisheries exports.

The federal minister emphasised that signing memoranda of understanding (MoUs) and fostering business-to-business agreements would play a crucial role in enhancing fisheries exports, strengthening aquaculture collaboration and elevating Pakistan as a key seafood hub in the region. “Pakistan aims to reach $600 million in seafood exports in the upcoming financial year,” he stated.

Among the exporters, Tariq Memon, International Sales Manager at Arabian Sea Products, shared that his company was developing an advanced aquaculture and holding system to cultivate and preserve live mud crabs and lobsters for export.

He said the initiative, in partnership with Chinese firms, seeks to extend the survival time of live seafood to two or three weeks, enabling access to distant markets such as China. Memon highlighted that success would depend heavily on technology transfer, investment and aquaculture expertise from Chinese partners.

The federal minister noted that Pakistan’s seafood export sector, including live mud crabs and lobsters, was experiencing positive growth, contributing over $465 million to total exports in financial year 2024-25. “Pakistan is ranked the third-largest global exporter of mud crabs, shipping over 3,000 tons of live mud crabs to China, its biggest importer,” he added.

Saeed Ahmed Fareed, CEO of Legend International (Pvt) Ltd, proposed a joint venture with a Chinese company focused on value-added frozen seafood and poultry products, such as chicken feet. Located in Karachi, the company operates a 65,000-square-foot facility with a processing capacity of 40 tonnes per day and holds approval from China’s General Administration of Customs.

Fareed explained that the collaboration would help both parties reduce costs, achieve economies of scale and broaden export reach to the US, Europe and regional markets. Ali Reimoo, partner at Karim Impex, shared his company’s plans to expand into China and neighbouring regions.

Meanwhile, Asif Muhammad Ali Shah, Director of Perfect Food Industries, highlighted the untapped potential for freeze-dried food, a preservation technology initially developed by NASA for astronauts but is now widely used across Asia.

Shah pointed out that although countries like Thailand, Vietnam and China supply freeze-dried fruits and vegetables, Pakistan lacks such facilities despite strong international demand for products including mango, okra, bitter melon, falsa and guava.

He attributed the absence of freeze-drying plants in Pakistan to high equipment costs and lengthy processing times but said international buyers were ready to commit to annual contracts if local production capacity was established, particularly to serve diaspora communities and niche food markets abroad.

The federal minister observed that Pakistan’s frozen food market was growing, supported by significant investments in cold chain infrastructure and advanced freezing technologies, which could lay the groundwork for future development of seafood-specific freeze-drying plants.