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Policy push key to fix critical mineral supply gaps
Measures such as fiscal incentives, investments in technology and infrastructure, mining operations abroad and conducive regulatory environment are a must for developing India’s critical mineral sector, a report by think tank GTRI said on Monday.
New Delhi: Measures such as fiscal incentives, investments in technology and infrastructure, mining operations abroad and conducive regulatory environment are a must for developing India’s critical mineral sector, a report by think tank GTRI said on Monday.
The Global Trade Research Initiative (GTRI) said in its report that India is focusing on developing its critical mineral sector as it is vital for high-tech and renewable energy technologies. At present, India depends on imports, particularly from countries like China, Congo, Chile, Indonesia, South Africa, Argentina, Vietnam, US, Canada and Australia. Critical minerals such as lithium, chromium, cobalt, antimony, arsenic, barite, beryllium, bismuth, cesium, fluorspar, gallium, germanium, graphite, hafnium, and others are indispensable for modern technologies.
They are integral to the manufacturing of various high-tech applications, including mobile phones, flat-screen monitors, wind turbines, electric vehicles (EVs), solar panels, drones, jet engines, satellites, and pacemakers. These are termed critical minerals as any supply disruptions due to scarcity, political tensions, or other factors may adversely affect the security and economy of a country, it said.
