Offshore Areas Mineral (Development and Regulation) Amendment Act, 2023
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Legislative action — a bill, act, or amendment that creates or modifies the legal framework. Carries binding force and shapes the rules under which citizens, institutions, and markets operate.
Summary
Opens up India's Exclusive Economic Zone for commercial mining of offshore minerals. Establishes a framework for granting licences and leases for offshore mineral exploration and production.
Key Facts
Type Legislation
Source Historical Record
Published Friday, 11 August 2023
Affected Population 1.4 billion consumers, 300 million without reliable power
Key Numbers
500 GW non-fossil fuel capacity target by 2030
Saubhagya: 100% household electrification
175 GW renewable energy installed (2025)
Merchandise exports: $437 billion (2024-25)
Key Authorities
Key Stakeholders
Government Context
NDA II BJP-led NDA
Left Centre Right