Parliamentary panel gives green signal to Poli
In its 23rd report on the National Mineral Exploration and Development Trust (NMEDT), the Standing Committee on Coal, Mines and Steel said that offshore exploration presents a “significant opportunity” to exploit largely untapped marine minerals and strengthen long-term resource security, particularly in the context of securing critical minerals.
It recommended that the Ministry of Mines formulate a clear policy framework supported by funding mechanisms and inter-ministerial coordination involving agencies such as the Ministry of Earth Sciences and the Geological Survey of India.
The Center had canceled the auction of 13 offshore mineral blocks in December 2025, of which 10 received no bids while three failed to attract the minimum required technically qualified bidders, highlighting the weak investor response in the segment.
In addition to the absence of a dedicated offshore framework, the panel’s findings point to deep institutional and structural barriers. It said the mandate of NMEDT has expanded significantly to include offshore exploration, overseas mineral development and coordination with the National Critical Mineral Mission, but identified the need for a comprehensive manpower assessment and creation of a specialized cadre with expertise in geology, geophysics, project finance and international mineral law.
The Committee also highlighted gaps in the exploration ecosystem at the state level, noting that funding allocation under the National Mineral Exploration Trust (NMET) remains proposal-driven, with no clear framework for equitable distribution across states. It recommended the development of state-specific multi-year exploration roadmaps to create a strong pipeline of projects, especially in areas with low participation.
On governance, the panel pointed to the need for greater transparency in fund flows, given the current multi-layered mechanism linked to state accounts and the Consolidated Fund of India, and suggested a real-time digital dashboard to track royalty collections, contributions and transfers across states.
The report also highlights the strategic importance of critical and energy transition minerals, proposing the creation of a Critical Mineral Security Index to map India’s import dependence against the domestic exploration pipeline and guide project prioritization.
