Critical minerals are essential for strategic power, economic growth, and clean energy transition.
The article emphasizes the critical role of minerals like lithium, cobalt, nickel, and rare earth elements in modern economies, particularly for clean energy technologies and defense. It highlights India's dependence on imports for these minerals, making it vulnerable to supply chain disruptions and geopolitical pressures. The piece discusses global efforts to secure critical mineral supplies, including the US Critical Minerals Act and Australia's strategy. It advocates for India to develop a comprehensive strategy encompassing domestic exploration, processing, recycling, and international partnerships to ensure a stable supply and reduce import dependency, crucial for its economic growth and strategic autonomy.
Key Points
- Critical minerals are indispensable for advanced technologies, clean energy transition, and defense industries.
- India's significant import dependency for these minerals poses strategic vulnerabilities and economic risks.
- Global competition for critical minerals is intensifying, with major economies implementing strategies for supply security.
- India needs a multi-pronged strategy involving domestic exploration, processing, recycling, and international collaborations to secure its critical mineral supply.
Exam Facts
- India imports 100% of its lithium and cobalt requirements.
- China controls about 70% of global rare earth element production.
- The US Critical Minerals Act of 2020 is mentioned.
- India's Geological Survey of India (GSI) has identified 30 critical minerals.
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