India is working to auction as many critical mineral blocks as possible by 2031, focusing on strengthening domestic supply chains for minerals vital to the country’s green energy and tech sectors. At the FICCI conference on Critical Minerals, Satish Chandra Dubey, Union Minister of State for Mines and Coal, discussed the government’s strategic plan to reduce its reliance on imported critical minerals. This move comes after the launch of the National Critical Minerals Mission, which has allocated ₹34,300 crore over seven years to bolster India’s position in this sector.
The government has already auctioned 24 critical mineral blocks and aims to auction many more by 2031, the Minister stated. This initiative is part of a broader strategy to improve India’s mineral security and reduce risks from global supply chain disruptions.
Minister Dubey highlighted the importance of public-private partnerships in achieving these goals. He urged the private sector to take a more active role in mineral exploration and extraction to help make India self-reliant. “We must work together as a team to build a self-sufficient India,” Dubey emphasized. This development comes amid growing concerns about the availability of critical minerals, especially those required for electric vehicles, electronics, and renewable energy infrastructure.
Jyoti Vij, Director General of FICCI, praised the National Critical Minerals Mission, noting its timely launch in line with the budget’s increased focus on critical minerals. She also announced the formation of the FICCI Committee on Critical Minerals, which will collaborate with the government and industry players to address sectoral challenges and seize new opportunities.
Dhiraj Nayyar, Group Chief Economist at Vedanta, stressed the importance of developing domestic resources. He pointed out that electric vehicles require six times more minerals than conventional cars, and offshore wind infrastructure needs nine times more than traditional power plants. “The key is exploration,” Nayyar said, calling for faster approval processes and more flexible land allocation for exploration.
Pratyush Sinha, Vice President at LOHUM, emphasized that the ₹34,000 crore government scheme represents a well-structured response to industry needs, developed after thorough consultations. He highlighted the expected tenfold increase in lithium production over the next decade, illustrating the rapid growth of the market and opportunities for new market players.
The demand for critical minerals in India is set to skyrocket across key sectors, according to a new FICCI-Deloitte report titled “Recovery of Critical Minerals from Mine Tailings and Overburden,” released at the conference. Rajib Maitra, Partner at Deloitte, noted that lithium demand alone is expected to rise nine to ten times over the next decade. The report identifies key opportunities in recovering critical minerals from mine tailings and overburden.
It also outlines four critical areas for development: policies and incentives, extraction processing technologies, supply chain integration, and capacity building. Recommendations include setting up Critical Mineral Recovery Zones with public-private partnerships, creating a national mine tailings database, and developing regulatory frameworks for mineral extraction. The report also highlights the importance of international collaboration and suggests India could benefit from models in countries like Australia, the U.S., Japan, and Canada, where specialized funds and programs support critical mineral recovery from mine waste.
