Critical minerals are the new strategic resources of the 21st century. Examine India’s endowment, import dependence and the 2023 critical minerals policy framework.

Introduction:

The Ministry of Mines released India's list of 30 Critical Minerals on 28 June 2023 — including lithium, cobalt, nickel, graphite, rare earths, titanium, zirconium and tin — based on the Veena Kumari Dermal Committee. These minerals power the energy transition, electronics, defence and the electric-vehicle ecosystem, making them strategic resources of the 21st century.

Endowment and gaps: The Geological Survey of India announced 5.9 million tonnes of inferred lithium resource at Salal-Haimana, Reasi (Jammu and Kashmir) in February 2023. India has titanium-bearing beach sands along Kerala, Tamil Nadu and Odisha, monazite-derived rare earths processed by IREL at Manavalakurichi, and graphite in Arunachal Pradesh and Odisha. Cobalt and nickel are essentially absent domestically.

Import dependence: India imports 100% of its lithium, cobalt and nickel for battery applications and over 70% of rare-earth magnets from China, leaving electric-vehicle manufacturing, solar PV, semiconductor packaging and defence supply chains exposed to price volatility and geopolitical shocks.

Policy framework: The MMDR (Amendment) Act, 2023 reserves 24 critical minerals for central-government auction, opening private exploration; KABIL (Khanij Bidesh India Ltd, a NALCO-HCL-MECL JV) secures overseas blocks (Argentina's Catamarca, 2024); India joined the Mineral Security Partnership in June 2023; auctions of more than 20 blocks began November 2023; the National Critical Mineral Mission (January 2025) commits Rs 16,300 crore.

Conclusion:

A four-track strategy — domestic exploration, recycling, overseas acquisition and refining capacity — will decide whether India captures or merely consumes the energy transition.