India's Strategic Global Push for Critical Mineral Resources
India is expanding its global footprint for critical mineral acquisitions through KABIL, negotiating with countries like Zambia and Chile. With a $4 billion investment, India aims to boost its R&D capacity, essential for future electric vehicles and renewable energy needs. New reforms support domestic and international efforts.
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Khanij Bidesh India Limited (KABIL) is stepping up its efforts to secure crucial mineral resources internationally, as highlighted by Union Minister for Coal and Mines G Kishan Reddy during a recent conference.
Addressing the 6th tranche of critical mineral blocks auction launch, Reddy emphasized the growing global demand for electric vehicle batteries and renewable energy, which is expected to triple by 2030. India is investing a substantial $4 billion to support the National Critical Mineral Mission, aiming to foster a strong research and development ecosystem essential for its future energy needs.
India has already made strides in acquiring lithium blocks in Argentina and is in negotiations with Zambia, Chile, and other countries. The government has also initiated reforms, such as removing import duties on critical minerals, to drive investment. Key states like Telangana and West Bengal are participating in critical mineral blocks auctions, marking a new phase in India's strategic mineral acquisitions.
(With inputs from agencies.)
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