India's first-ever report on Critical Minerals for India unveils

Tags: National National News

India's-first-ever-report-on-Critical-MineralsUnion Minister of Mines, Pralhad Joshi on 29th June launched India's inaugural report on Critical Minerals for India.

An overview of the news

  • The report identifies 30 critical minerals that are crucial for various sectors such as defense, agriculture, energy, pharmaceuticals, and telecom.

  • This comprehensive list represents a significant milestone in India's efforts to achieve self-reliance and security in terms of mineral resources.

  • The report aligns with India's vision of attaining 'Net Zero' targets, emphasizing the importance of sustainable resource management.

  • The purpose of the list is to provide guidance for policy formulation, strategic planning, and investment decisions within the mining sector.

  • By identifying critical minerals, India aims to enhance its domestic production capabilities, reduce dependence on imports, and strengthen its mineral security.

  • The report's findings will play a vital role in shaping India's mineral resource policies and facilitating long-term sustainability in key sectors of the economy.

What are Critical Minerals?

  • Critical minerals are a specific group of minerals that play a vital role in various sectors of the economy, including defense, energy, telecommunications, agriculture, and pharmaceuticals.

  • These minerals are essential for the production of high-tech products, renewable energy technologies, advanced defense systems, and other critical applications.

  • Critical minerals possess unique properties and characteristics that make them difficult to substitute or replace with alternative materials.

  • The identification and strategic management of critical minerals are crucial for ensuring the economic growth, security, and sustainability of a country's industries.

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