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India Secures Critical Minerals Future
9 Oct
Summary
- New policy to stockpile critical minerals for defense, electronics, and clean energy.
- Over 30 critical minerals identified, including lithium and rare earth elements.
- ₹1,500-crore incentive scheme launched for critical mineral recycling.
India is poised to introduce a critical minerals stockpiling policy in approximately one month. This initiative aims to fortify supplies for key sectors such as defense, electronics, renewable energy, and aerospace. The policy is a component of a larger strategy to enhance India's critical mineral capabilities through accelerated exploration and improved mineral processing.
The government has pinpointed more than 30 critical minerals, encompassing cobalt, copper, lithium, nickel, and rare earth elements, essential for industries ranging from electric vehicles to defense. Challenges in technology development, raw material access, and financing were highlighted at a recent conclave.
To further support these efforts, a ₹1,500-crore incentive scheme has been established to encourage the recycling and reuse of critical minerals. This move is expected to strengthen the supply chain for strategic industries and foster a more resilient domestic ecosystem.
