Business News | NITI Aayog Holds Stakeholder Consultation on Critical Mineral Demand, Supply Chain Security Amid Rising Clean Energy Needs
Get latest articles and stories on Business at LatestLY. Government think tank, NITI Aayog on Wednesday convened a stakeholder consultation on the requirement of critical minerals for strategic sectors, bringing together experts from the government, research institutions, academia and industry to assess India's future mineral needs and strengthen supply chain resilience.
New Delhi [India], July 9 (ANI): Government think tank, NITI Aayog on Wednesday convened a stakeholder consultation on the requirement of critical minerals for strategic sectors, bringing together experts from the government, research institutions, academia and industry to assess India's future mineral needs and strengthen supply chain resilience.
The meeting focused on estimating the current and future demand for critical minerals across strategic and emerging sectors, identifying supply chain vulnerabilities, strengthening domestic capabilities in exploration, processing and recycling, and promoting collaboration among key stakeholders.
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In a post on X, NITI Aayog said the consultation reflected its continued commitment to evidence-based policymaking and securing critical mineral value chains essential for India's economic growth, technological advancement and national security.
The discussions come at a time when India is expected to witness a sharp rise in demand for critical minerals as the country expands clean energy technologies, electric mobility and advanced manufacturing.
According to a report by NITI Aayog, India's transition to a developed economy and its net-zero target by 2070 will depend on secure, affordable and responsible access to critical energy transition minerals. The report estimates that under the Net Zero Scenario, India's cumulative requirement for critical energy transition minerals could reach around 169 million tonnes, about 51 per cent higher than under the Current Policy Scenario, with battery-related minerals accounting for a significant share of future demand.
The report also notes that more than two-thirds of the country's cumulative critical mineral demand is expected to materialise after 2050. It highlights that India remains highly dependent on imports for several key minerals, making diversification of supply sources and development of domestic value chains a strategic priority.
To address these challenges, the report recommends strengthening domestic exploration and mining, expanding refining and recycling capacity, promoting mission-oriented research and development, diversifying international sourcing, and improving institutional coordination to secure long-term critical mineral supplies.
The stakeholder consultation is expected to feed into future policy measures aimed at securing critical mineral supply chains and supporting India's long-term economic, industrial and national security objectives. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)