Building critical mineral stockpiles: A key priority for India

India is taking decisive steps to secure a stable supply of critical minerals, essential for its burgeoning technology and manufacturing sectors. Recognizing the strategic importance of these resources, the government is prioritizing the establishment of a global stockpiling alliance. This initiative aims to foster international cooperation, ensuring access to vital minerals like lithium, cobalt, and rare earth elements, which are crucial for producing everything from electric vehicles to advanced electronics. In tandem with global efforts, India is ramping up domestic exploration to reduce its reliance on imports. By investing in advanced geological surveys and mining technologies, the country aims to tap into its own mineral reserves. This dual approach not only enhances national security but also positions India as a competitive player in the global supply chain for critical minerals. Strengthening domestic capabilities will also create jobs and stimulate economic growth in mineral-rich regions. Furthermore, building strategic stockpiles will help India mitigate supply chain disruptions and price volatility, which have been exacerbated by geopolitical tensions and environmental concerns. By diversifying its sources and investing in sustainable mining practices, India is poised to become a leader in the responsible sourcing of critical minerals. This comprehensive strategy underscores the nation's commitment to achieving self-reliance while fostering international partnerships in the mineral sector.

— Authored by Next24 Live