The government is preparing to bring a new Mining Policy in Budget 2026–27, the aim of which is to increase domestic production of silver, copper and zinc by reducing imports. This policy will take forward last year’s mining reforms. Today India imports $5–7 billion worth of copper, whereas it was once a net exporter. Due to the rapid growth of manufacturing and EV sectors, dependence on raw materials has increased. Private players may have a bigger role in the new policy and the target is to increase copper smelting capacity to 2 million tonnes by 2030. There will be special focus on Silver, because India consumes 15–20% of global demand. Demand for metals will further increase with EV, renewable energy and 500 GW green target. For rare earths, auction of 20–30 critical mineral blocks is possible in 2026.
Budget 2026-27: Will Mining Policy change India’s manufacturing game? | Money Live | Budget 2026-27: Will the Mining Policy change India’s manufacturing game?
