Shares of Gujarat Mineral Development Corporation are in focus on Sunday, February 1, after a key announcement in Union Budget 2026 related to critical minerals and advanced manufacturing.
While presenting the Budget, Nirmala Sitharaman said India plans to develop rare earth magnets corridors, signalling a strategic push to strengthen domestic capabilities in critical and strategic minerals. Rare earth magnets are a key input for sectors such as electric vehicles, renewable energy, electronics, and defence manufacturing.
The proposed corridors are expected to focus on improving extraction, processing, and value-chain integration of rare earth elements within India. The move aligns with the government’s broader objective of reducing import dependence and building resilience in strategic supply chains amid global geopolitical and trade uncertainties.
Companies linked to mineral exploration and development, including GMDC, are being closely tracked by market participants as further details on the structure, incentives, and implementation framework of the rare earth magnets corridors are awaited.
Additional clarity is expected through detailed Budget documents and subsequent policy notifications outlining the scope of investments, regulatory support, and timelines for execution.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
