PM Modi Reviews Overseas Critical Mineral Asset Acquisitions, Pushes Incentives for Domestic Recycling

Prime Minister Narendra Modi chaired a high-level review meeting to assess India’s progress in acquiring critical mineral assets abroad and to finalise policy support for strengthening domestic recycling capabilities, underscoring the government’s focus on long-term resource security.

During the review, the Prime Minister evaluated ongoing and proposed overseas investments aimed at securing key minerals such as lithium, cobalt, nickel, rare earth elements and graphite—materials considered vital for electric mobility, renewable energy systems, electronics manufacturing and defence applications. Officials briefed the Prime Minister on partnerships with resource-rich countries, strategic investments through public sector undertakings, and collaboration models involving private industry.

The meeting also focused on accelerating domestic recycling of critical minerals to reduce import dependence and build a circular economy. The government is considering a package of incentives, including fiscal sops, technology support and streamlined regulatory norms, to encourage recycling of batteries, electronic waste and industrial scrap containing valuable minerals. These measures are expected to improve recovery rates, lower raw material costs and support India’s clean energy transition.

Prime Minister Modi emphasised the need for a coordinated approach across ministries, public sector enterprises and the private sector to ensure secure supply chains. He highlighted that timely execution of overseas asset acquisitions, coupled with robust domestic recycling infrastructure, is essential for sustaining industrial growth and meeting India’s climate and manufacturing goals.

The review aligns with India’s broader strategy to strengthen critical mineral supply chains amid rising global competition and geopolitical uncertainties. By combining international resource partnerships with domestic value creation, the government aims to position India as a resilient and self-reliant player in the global clean technology ecosystem.