Explanation

Statement I is correct. The Minerals Security Partnership (MSP) is a US-led initiative aimed at strengthening and diversifying global critical mineral supply chains by promoting strategic projects and attracting investments across the value chain. In June 2023, India became the 14th member of the MSP, joining other partner nations to secure access to minerals essential for clean energy and technology transitions.

Statement II is incorrect. While India released a list of 30 critical minerals in June 2023 — including lithium, cobalt, nickel, graphite, and rare earth elements (REEs) — it is not resource-rich in all of them. Many of these minerals are either scarce, unexplored, or underdeveloped within India’s territory. To address this gap, the government launched the National Critical Mineral Mission (NCMM) in 2025, under which the Geological Survey of India (GSI) will undertake 1,200 exploration projects between 2024–25 and 2030–31.

Statement III is correct. In 2023, the Indian Parliament amended the Mines and Minerals (Development and Regulation) Act, 1957, empowering the Central Government to exclusively auction mining leases and composite licenses for 24 specified critical minerals listed under the new Part-D of the First Schedule. This includes lithium-bearing minerals, niobium-bearing minerals, and rare earth minerals not containing uranium and thorium — marking a significant shift from the earlier state-led auction framework.

Therefore, Statements I and III are correct.

UPSC Insight
Statement II is the planted trap — the word “all 30” makes it incorrect. India lacks domestic reserves of many critical minerals like lithium and cobalt. Whenever a statement uses absolute language like “all,” verify carefully before marking it correct.