In Short : The Indian Cabinet has approved a ₹7,000 crore scheme to enhance domestic production and processing of rare earth elements, critical for strategic and high-tech industries. The initiative focuses on mining, processing, and research to reduce import dependence, strengthen resource security, and support India’s renewable energy, defense, and electronics sectors, positioning the country as a key player in the global rare earths market.
In Detail : The Indian Cabinet has sanctioned a ₹7,000 crore scheme to develop the country’s rare earths sector and boost domestic production of critical minerals.
The initiative aims to reduce India’s dependence on imports of rare earth elements, which are vital for high-tech industries, defense applications, and renewable energy technologies.
The program will focus on the exploration, extraction, processing, and research and development of rare earth minerals across India.
Rare earth elements play a critical role in electronics, electric vehicles, wind turbines, defense equipment, and other strategic sectors, making domestic availability essential.
The scheme is expected to enhance India’s resource security, support domestic manufacturing, and ensure a stable supply of rare earth minerals for strategic industries.
Authorities emphasize that the initiative aligns with national goals of self-reliance, promoting indigenous technology, and strengthening India’s position in global critical minerals supply chains.
Industry experts believe the program could attract private investment, encourage innovation in extraction and processing technologies, and improve operational efficiency across the sector.
The plan also includes environmentally sustainable mining practices, research into efficient utilization, and development of processing capabilities to maximize value addition.
Through this strategic ₹7,000 crore initiative, India aims to secure its critical mineral requirements, promote technological advancement, and position itself as a global hub for rare earth production and processing.
