India is ramping up efforts to secure access to critical minerals like lithium, as it races to compete with global rivals in the development of next-generation energy supply chains. The country is pushing state-owned mining groups to explore mineral reserves in South America and Africa, while also inviting bids for domestic mining blocks to support industries such as electric vehicles and renewables.
VL Kantha Rao, a secretary in India’s ministry of mines, highlighted the increasing importance of critical minerals due to technological advancements, growth, and climate goals. India plans to allocate half of its upcoming exploration projects to critical minerals like graphite, molybdenum, nickel, cobalt, lithium, and potash. The government also intends to announce successful bidders from a recent auction for 20 mining blocks next month.
In a strategic move, India acquired five lithium blocks in Argentina earlier this year and signed agreements with other countries like Australia to identify potential projects. Rao mentioned plans to explore opportunities in Chile, Bolivia, and various African nations for critical minerals projects.
Despite being a late entrant in the global race for critical minerals, India is earmarking significant subsidies for EV manufacturing, renewable technology, and electronics. The country’s efforts are part of a broader geopolitical competition to secure supplies crucial for next-generation energy technology.
While India faces stiff competition from countries like China, it is leveraging its vast mineral reserves, skilled labor force, and affordable energy to establish itself as a key player in the critical minerals space. With strategic partnerships and aggressive exploration efforts, India aims to strengthen its position in the global supply chain for critical minerals.