India Aims for Global Leadership in Critical Minerals

India is coming a long way to emerge as a key participant in the global critical minerals market, whose dependence is so much on the low-carbon economy. India possesses huge untapped mineral reserves, with only about 20% of India's mineral resources being explored. India possesses approximately 163.9 million tonnes of copper reserves and 44.9 million tonnes of cobalt ore resources. India is also placing its emphasis on metal recycling and making it mandatory for new non-ferrous products to contain 5% of recycled material by 2027-28.

For improving self-sufficiency, the Ministry of Mines of India is planning to offer half of its exploration projects for major minerals like graphite, molybdenum, nickel, cobalt, lithium, and potash. National Critical Minerals Mission was launched in 2024 and aims at the overall improvement in the value chain, starting from exploration up to recycling. With a stable government, proactive policies, budding infrastructure, and production ecosystems, India is a lucrative place for global investors. India is also approaching countries like the United States, Australia, and the European Union to secure its supply chains. A Critical Minerals Mission will be launched in 2025, which will bring together various ministries, industries, and think tanks to ensure a sustainable supply of minerals

Source: World Economic Forum