India has approved ₹163 billion ($1.88 billion) to boost its critical minerals sector, focusing on reducing reliance on imports of essential resources like lithium. The government expects an additional ₹180 billion in public sector investment. The initiative aims to enhance domestic exploration, including offshore areas, and provide financial incentives for mineral discovery. India, still developing its lithium processing capabilities—an area dominated by China—has sought technical assistance from countries like Australia, Russia, and the U.S. The move aligns with India’s broader goal of securing materials crucial for energy transition and industrial growth.
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India has approved ₹163 billion ($1.88 billion) to boost its critical minerals sector, focusing on reducing reliance on imports of essential resources like lithium. The government expects an additional ₹180 billion in public sector investment. The initiative aims to enhance domestic exploration, including offshore areas, and provide financial incentives for mineral discovery. India, still developing its lithium processing capabilities—an area dominated by China—has sought technical assistance from countries like Australia, Russia, and the U.S. The move aligns with India’s broader goal of securing materials crucial for energy transition and industrial growth.