India is actively working to bolster its critical minerals sector by offering financial incentives aimed at reducing dependence on imports of essential materials like lithium and rare earth elements. The government has approved ₹16,300 crore (approximately $1.88 billion) to develop this sector, with plans to provide targeted subsidies for mining and infrastructure development.
In addition to financial support, the government is focusing on securing loans from multilateral financial institutions and fostering global research and development collaborations across the critical minerals value chain. This comprehensive approach aims to enhance technology, regulation, and competitiveness in various processes related to critical minerals.
To further support the development of critical minerals, the government plans to provide funding for research institutes to offer technical assistance to miners. This initiative is part of the Critical Minerals Mission, which seeks to ensure mineral supply from both domestic and foreign sources.
These efforts are part of India’s broader strategy to reduce reliance on imports and secure a stable supply of critical minerals essential for energy transition technologies. The government’s initiatives reflect a commitment to strengthening the domestic mining industry and enhancing the nation’s self-sufficiency in critical minerals.
