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2 clusters · 4 sources · 17 days · First seen · Last updated
India strategic autonomy and critical mineral security
Overview
India is pursuing a trade diplomacy strategy focused on selective integration and strategic autonomy. This approach prioritizes agreements that balance market access with protections for sensitive domestic sectors, such as the India–UK Comprehensive Economic and Trade Agreement. Finance Minister Nirmala Sitharaman has highlighted the necessity of securing critical inputs to mitigate global economic uncertainty and reduce vulnerability to geopolitical tensions, including Chinese restrictions on critical mineral exports.
To support manufacturing in sectors like electric vehicles, batteries, and electronics, India has launched the ₹34,300-crore National Critical Mineral Mission. This initiative aims to acquire 50 overseas mines by 2031. The government is utilizing its diplomatic network by appointing nodal officers in mineral-rich nations to assist companies in navigating local regulations and identifying exploration opportunities.
These efforts seek to reduce dependence on imports for materials such as lithium, copper, and rare earth elements, particularly as China maintains a dominant position in global refining and processing capabilities.
Entities
China · India · Tata Chemicals · United States · Khanij Bidesh India Ltd
Timeline
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[BUSINESS] 2 sourcesIndia expands critical minerals strategy to secure supply chains
India is utilizing diplomatic channels and a ₹34,300-crore mission to secure overseas critical mineral assets to reduce dependence on China's dominant refining and processing supply chains.
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[BUSINESS] 2 sourcesIndia shifts toward selective trade integration and strategic autonomy
India is pursuing a strategy of selective trade integration and strategic autonomy to secure critical minerals, energy, and supply chains amidst global geopolitical tensions.
Sources
m.businesstoday.in · newindianexpress.com · policycircle.org · thenews21.com