By:- Dr. Hanuma Prasad Modali, Managing Director & CEO, Deccan Gold Mines Ltd., said:
The Union Budget 2026–27 reinforces the Government’s commitment to real, on-ground reforms that strengthen India’s economic resilience even in a challenging global environment. The focus on scaling manufacturing across strategic sectors, building long-term security and stability, and advancing inclusive growth provides a strong foundation for India’s next phase of development.
For the mining and resources sector, the proposed scheme for rare earths and critical minerals – especially in mineral-rich states such as Andhra Pradesh and Tamil Nadu – is a significant and timely intervention. The decision to provide basic customs duty exemption on capital goods required for processing of critical minerals in India, and to extend tax deductibility for expenditure on prospecting and exploration by including additional critical minerals, directly improves project economics and lowers entry barriers for serious explorers.
Measures aimed at improving access to exploration data, supporting beneficiation and processing, strengthening capital goods capabilities, and accelerating infrastructure creation will materially shorten the journey from discovery to production.
Taken together, these reforms move India closer to a truly self-reliant critical minerals ecosystem. We see this Budget as a strong enabler to accelerate our gold and critical minerals portfolio and to contribute meaningfully to India’s Atmanirbhar Bharat vision through responsible, technology-led and sustainable mining.
