Agencies
NEW DELHI: President Droupadi Murmu on Tuesday stressed upon the need to increase the focus on critical minerals for green transition.
Critical minerals, including lithium, play a crucial role in the production of clean energy technologies, from wind turbines to electric cars. They are particularly in demand for the production of batteries for electric cars.
Speaking during National Geoscience Awards function, Murmu said the Critical Minerals Mission can provide essential raw material for green transition.
For sustainable development, she said, India is committed to net-zero emission.
Murmu also said that for making India a developed nation by 2047, there is a need for self reliance on mineral production and mineral exploration.
Union Coal and Mines Minister G Kishan Reddy said the government is focusing on making India self reliant in critical and strategic minerals.
He further said that 14 critical mineral blocks have been put on sale.
The government, he said, is giving priority to offshore blocks exploitation.
The Centre, Reddy said, is committed to sustainable development.
“We will work with commitment in order to make India a global leader in the mining sector,” he stressed.
The government plans to provide financial incentives for development of critical minerals, including lithium.
There will also be an emphasis on securing loans from multilateral financial institutions for the development of the sector.
The government will focus on global R&D collaboration across the critical minerals value chain.
To encourage the participation of Indian public and private sector companies in the acquisition of assets abroad, the government will provide targeted subsidies for mining, and for setting up evacuation infrastructure.
The mines ministry will work closely with Ministry of External Affairs (MEA) to support the development of mineral evacuation infrastructure.
Union Budget 2024-25 had proposed launching Critical Minerals Mission for domestic production, recycling of critical minerals, and overseas acquisition of critical mineral assets.
The mission aims to secure the country's critical mineral supply chain by ensuring mineral availability from domestic and foreign sources.
It also aims at strengthening the value chains by enhancing technological, regulatory, and financial ecosystems to foster innovation, skill development, and global competitiveness in mineral exploration, mining, beneficiation, processing, and recycling.
