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