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PSUs tap GIFT City for overseas mineral hunt amid critical supply push

1 week ago 11

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Home / Markets / News / PSUs tap GIFT City for overseas mineral hunt amid critical supply push

In a statement, NMDC said the subsidiary was envisaged as "a strategic investment and financial platform to support NMDC's overseas expansion, particularly in critical and strategic minerals"

NMDC, SAIL, GIFT City, minerals

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Illustration: Binay Sinha

Shubham Kumar New Delhi

4 min read

Last Updated :

Oct 18 2026 | 11:41 PM

IST

State-owned NMDC Ltd and Steel Authority of India Ltd (SAIL) have incorporated subsidiaries at the International Financial Services Centre (IFSC) in GIFT City, according to Ministry of Corporate Affairs (MCA) records. The move assumes significance amid India’s quest to secure critical mineral supplies, including through ventures to tap exploration and mining opportunities overseas.

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