PM Modi Reviews India’s Strategy On Critical Mineral Assets And Domestic Recycling Incentives

Prime Minister Narendra Modi has chaired a high-level review on India’s critical minerals strategy, focusing on overseas acquisitions and domestic recycling initiatives. The meeting underscored the government’s intent to secure long-term access to essential resources like lithium, cobalt, nickel, and rare earth elements, which are vital for clean energy technologies, electronics, and defense manufacturing.

Key Highlights

• India is actively pursuing overseas mineral assets through state-backed enterprises, targeting resource-rich geographies in Africa, South America, and Australia.
• The government is offering sops for domestic recycling of critical minerals, encouraging private sector participation to recover valuable materials from used batteries, electronics, and industrial waste.
• The review emphasized reducing import dependence, with a focus on building resilient supply chains for electric vehicles, renewable energy storage, and semiconductor manufacturing.
• Strategic partnerships with global mining firms and governments are being explored to secure long-term contracts and joint ventures.
• Domestic recycling incentives include tax benefits, subsidies, and infrastructure support for companies investing in advanced recovery technologies.
• The initiative aligns with India’s broader energy transition goals, aiming to meet net zero targets while ensuring resource security.

Officials highlighted that the newly formed Critical Minerals Mission will coordinate efforts across ministries, industry, and research institutions to accelerate both overseas acquisitions and domestic recycling.

The government is also considering policy frameworks to ensure transparent procurement, sustainable mining practices, and environmental safeguards in both domestic and international projects.

Industry experts note that India’s dual approach combining overseas acquisitions with domestic recycling positions the country to compete globally in securing critical resources, while simultaneously fostering innovation and sustainability at home.

Sources: The Economic Times, Business Standard, Mint, Hindustan Times