India Accelerates Quest for Critical Minerals Amid Global Demand Surge

India is focusing on acquiring critical mineral assets abroad and enhancing recycling efforts at home to ensure a steady supply for technological and industrial needs. Union Minister G Kishan Reddy emphasized the need for private sector participation to reduce dependence on imports.

In a strategic move underscoring the nation's urgency to secure critical mineral assets, India has ramped up efforts to procure and transport these vital resources from international sources to meet domestic demands. Union Minister of Coal and Mines G Kishan Reddy, speaking at the CII Global Summit in New Delhi, highlighted the pivotal role of the private sector in this endeavor.

Reddy asserted that India is actively encouraging private companies to acquire minerals overseas with the support of various embassies, emphasizing the significance of such actions in reducing the country's reliance on imports. He noted that these minerals are essential for global technological and industrial growth, indicating that India's approach is mirrored globally.

The minister mentioned significant exploration efforts in resource-rich nations like Argentina, Australia, and Chile, aiming to secure lithium blocks due to its scarcity in India. Domestically, the government targets urban mining and recycling to fulfill a significant portion of its mineral needs, reinforcing efforts with a Rs 36,000 crore incentive and new processing plants.