Government to unveil list of critical minerals to cut down imports
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The Indian government is set to unveil a list of critical minerals in the country to ensure reduced import dependencies, enhance supply chain resilience, and support the country's net zero objectives.
A first of its kind data, the critical mineral list will be released by Coal and Mines Minister Pralhad Joshi on Wednesday, official sources said.
This list is designed to identify and prioritise minerals that are essential for various industrial sectors such as high-tech electronics, telecommunications, transport and defence.
It will serve as a guiding framework for policy formulation, strategic planning and investment decisions in the mining sector.
Sources also said that the initiative is aligned with a larger vision of achieving ‘Net Zero’ target for India through the government's commitment to create a robust and resilient mineral sector.
India has recently become the newest partner in the coveted Mineral Security Partnership (MSP) to bolster critical mineral supply chains. The initiative is all the more significant as India aims to source as many critical minerals as it can considering the fluid geopolitical situation, owing to the Russia-Ukraine war, in case their availability becomes difficult.
India is keen on buying reserves abroad and also mining for critical minerals domestically, sources aware of the development said.
