New Delhi, April 30 (IANS) Invest India on Tuesday highlighted the huge business opportunity for critical mineral processing in the country to foreign investors with details of fiscal and non-fiscal incentives being offered to push growth in the sunrise sector.
On the second and concluding day of the critical minerals summit, leading mining states such as Odisha and Andhra Pradesh also shared incentives provided by them for industry, underlining the nation’s growth trajectory and state-level interventions to foster enabling infrastructure.
Emphasis was placed on a cluster-based approach to promote synergies in mineral extraction, refining, and end-use, particularly in low-carbon technologies.
The Narendra Modi government accelerated the exploration of critical minerals over the last two years as a result of which over 100 critical mineral blocks are now in the pipeline and will be put up for auction to mining companies.
Critical minerals such as lithium, chromium, nickel, graphite, cobalt, titanium, and rare earth elements are essential raw materials for sectors like electronics, electric vehicles, renewable energy, defence, and high-tech telecommunications.
Currently, the extraction of these minerals is dominated by a few countries such as China, which makes the supply chain vulnerable to geopolitical uncertainties.
The discussion at the summit on Tuesday underscored the importance of regulatory certainty, financing frameworks, and ESG standards to attract investors.
The panelists highlighted facilitation services offered by organisations like Invest India and the Industrial Promotion and Investment Corporation of Odisha (IPICOL), facilitating the establishment of processing and beneficiation capabilities in India.
The summit succeeded in bringing together a diverse array of Indian and international stakeholders, including industry leaders, startups, government officials, scientists, academics, and policy experts to help accelerate the domestic production of critical minerals to support India’s economic growth.
Veena Kumari Dermal, Joint Secretary in the Ministry of Mines, in her closing remarks emphasised both domestic and international efforts to secure the critical mineral supply chain, enhance skill development in India and focus on critical minerals recycling.
Dermal also highlighted India’s available processing technologies for these minerals and referenced amendments to offshore mining regulations.
The summit served as a platform for transformative dialogue and collaboration, setting the stage for further conversations for short-listing the steps required to be taken for India’s emergence as a global leader in the critical mineral sector.
–IANS
sps/arm
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
