India Diversifies Critical Mineral Imports Amid Growing Global Competition

India is actively seeking alternative sources for critical minerals to reduce dependence on China. Engaging with countries like Argentina and Australia, the government aims to bolster domestic processing capabilities and secure necessary resources. Strategic international agreements underscore India's urgent move to stabilize its mineral supply chain.

India is taking decisive steps to lessen its dependency on China for critical mineral imports by tapping into new international markets. Mahaveer Singhvi, Joint Secretary at the Ministry of External Affairs, announced at the International Energy Conference that India has already signed an understanding with Argentina and is exploring other countries.

Currently reliant on China for crucial minerals like lithium and cobalt, India is implementing policies such as the National Critical Mineral Mission to diversify its sources. Singhvi pointed out the urgent need to enhance domestic processing capabilities to transform these raw materials into usable industrial inputs, reducing exposure to price fluctuations and geopolitical risks.

The strategy also focuses on building domestic capacity and securing India's future supply. By initiating talks with nations such as Australia and advancing partnerships, India aims to stabilize its mineral supply chain. While agreements like the interim Economic Trade Agreement with Australia are underway, India is encouraged to invest in these sectors aggressively.

(With inputs from agencies.)