Amid China’s export curbs, India boosts rare earth and critical mineral strategy through 1,200 exploration projects, overseas investments, and legal reforms to power EV, defence, and energy sectors
India is stepping up efforts to secure a reliable supply of rare earth elements (REEs) and critical minerals to mitigate possible disruptions amid growing global tensions and export restrictions by China. It noted that minerals like lithium, cobalt, nickel and rare earth elements are vital for solar panels, wind turbines, electric vehicles and energy storage systems.
The latest Monthly Economic Review for May from the Ministry of Finance flagged China’s recent move to curb rare earth exports as a “concerning development” with potential to disrupt the global supply of minerals essential to electric vehicles, defence technologies, wind turbines, and solar panels. In response, India is accelerating its domestic exploration, processing and international partnerships in what is now clearly a resource-driven geopolitical contest.
India is expanding offshore exploration and forging international partnerships to acquire critical mineral assets in resource-rich countries. Also, the investment in research and value addition, spearhead technology development for mineral extraction and recycling.
