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

Tags: National National News

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.