A report from the Global Trade Research Initiative (GTRI) underscores the necessity of implementing various measures to strengthen India’s critical mineral sector. The measures include fiscal incentives, investments in technology and infrastructure, engagement in mining operations abroad, and the establishment of a conducive regulatory environment. The report highlights India’s strategic focus on enhancing its critical mineral sector, recognizing its pivotal role in powering high-tech and renewable energy technologies.
Critical minerals such as lithium, chromium, cobalt, antimony, arsenic, barite, beryllium, bismuth, cesium, fluorspar, gallium, germanium, graphite, hafnium, and others are indispensable for a wide array of modern technologies. These minerals are integral components in the production of various high-tech applications, including mobile phones, flat-screen monitors, wind turbines, electric vehicles (EVs), solar panels, drones, jet engines, satellites, and pacemakers. Termed critical due to their essentiality and vulnerability to supply disruptions, these minerals’ scarcity or geopolitical tensions can significantly impact a nation’s security and economy.
The report underscores India’s heavy dependence on imports, primarily from countries such as China, Congo, Chile, Indonesia, South Africa, Argentina, Vietnam, the US, Canada, and Australia for critical minerals. The reliance underscores the urgency for India to invest in domestic capabilities and cultivate a supportive environment. As reported by ETEnergyworld.com, by doing so, India can mitigate its reliance on imports and fortify its critical mineral sector, thereby enhancing its strategic and economic resilience.
