India Announces Rare Earth Corridors, Rs20,000 Crore CCUS
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New Delhi: Finance Minister Nirmala Sitharaman announced February 1 that the Union Budget will allocate Rs 20,000 crore over five years for Carbon Capture Utilisation and Storage technologies and will support dedicated rare earth corridors in Kerala, Tamil Nadu, Andhra Pradesh and Odisha. The measures aim to scale industrial readiness for CCUS and to promote mining, processing, research and manufacturing of critical minerals, including permanent magnets. States proposed corridor plans and allocations — Kerala proposing a Vizhinjam–Chavara link and Andhra Pradesh earmarking coastal hectares — and central support will include technology and policy facilitation. Based on 6 articles reviewed and supporting research.
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Timeline
- 1. November 2025: Central government launches scheme for rare earth permanent magnets.
- 2. 29th January 2026: Kerala finance minister highlights corridor plans and allocates initial funds.
- 3. Late January 2026: Andhra Pradesh earmarks nearly 16,000 hectares for mineral exploration.
- 4. 1st February 2026: FM announces Rs 20,000 crore for CCUS and dedicated rare earth corridors.
- 5. Early 2026: States and private firms move toward tenders, clearances, and early exploration phases.
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