Market Report
Report Summary India’s critical minerals market is projected to surpass ₹1.2 lakh crore (approx. US$15 billion) by 2030, fueled by accelerating EV adoption, renewable energy expansion, and industrial modernization. With robust government initiatives like the National Critical Minerals Mission and growing export potential, the sector presents a ₹2.5 lakh crore (US$30 billion) opportunity over the coming decade.
India Critical Minerals Market 2025-2030: Domestic, Export, Value Chain, Investment Trends And China Comparison
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India has identified five critical minerals like Lithium, Cobalt, Nickel, Copper, and Rare Earth Elements and remains pivotal for driving its clean energy transition and achieving technological independence. The launch of the National Critical Minerals Mission (NCMM) in 2025 marks a transformative initiative to secure domestic supply chains, boost exploration, and cut reliance on imports. With a combined government and private investment outlay exceeding ₹34,000 crore for 2025-31, the mission aims to identify 1,200 deposits, scale recycling capacities, and foster innovation through Centres of Excellence.
Despite these efforts, India continues to face high import dependence, ranging between 70% and 100%, particularly for minerals like lithium, cobalt, and nickel that are essential for battery manufacturing and EV production. This dependency underscores the strategic urgency to enhance domestic production capabilities and diversify sources internationally to reduce geopolitical risks and supply disruptions. The critical minerals prioritized underpin key sectors such as electric vehicles, renewable energy, advanced electronics, and defense. Lithium, cobalt, and nickel predominantly serve batteries and alloys, while copper is vital for power infrastructure and grid modernization. Rare earth elements, crucial for high-tech and defense applications, have a significant import footprint on India’s supply chain, necessitating focused domestic capabilities. India’s critical minerals sector faces significant import dependency risks, especially for lithium, cobalt, nickel, and rare earth elements, all crucial for the country’s clean energy ambitions. This heavy reliance underscores the urgency for domestic resource development and diversification of import sources. - TOC
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Report FAQs
What are the key growth drivers for India’s critical minerals market through 2030?
Accelerated electric vehicle adoption, renewable energy expansion, industrial modernization, and government initiatives such as the National Critical Minerals Mission are fueling multi-billion-dollar market growth.
Which minerals are considered critical for India’s clean energy transition and technological independence?
Lithium, cobalt, nickel, copper, and rare earth elements (REEs) are regarded as critical minerals due to their importance in batteries, electronics, renewable energy, and defense technologies.
What is India’s current import dependency for critical minerals and why is it a strategic concern?
India relies on imports for 70–100% of critical minerals, especially lithium, cobalt, nickel, and rare earths, making domestic resource development and diversification of import sources crucial for energy security and supply chain resilience.
How is the government addressing import dependency and supporting domestic production?
Initiatives like the National Critical Minerals Mission, amendments to the MMDR Act, export-import policy incentives, and robust public-private investments aim to enhance domestic exploration, processing, and recycling.
What is the outlook for investments and opportunities in the sector by 2030?
Over ₹34,000 crore in investments are projected, with a focus on discovery of new mineral deposits, expanding recycling capacity, and fostering innovation through Centres of Excellence.
How does India
India is heavily reliant on China for supply, but is pursuing new partnerships and value chain integration with countries like Australia, Chile, and Argentina, while also ramping up domestic refining and recycling efforts.
Who are the major companies and stakeholders in India’s critical minerals ecosystem?
Key players include Hindustan Zinc, MOIL, Vedanta, Tata Chemicals, JSW Group, Li-Energy, Gravita India, Pilbara Minerals JV, along with regulatory bodies like the Ministry of Mines and strategic consortiums such as KABIL.
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