In a strategic move to secure resources vital for clean energy technologies, India has signed 15 agreements related to critical minerals since January 2025. This effort places India among the top global contenders in the race for these essential minerals, following the United States, which leads with 41 agreements. India’s tally surpasses that of China, Canada, Saudi Arabia, and the European Union, each with 11 agreements.
The agreements focus on securing supplies of minerals like lithium, cobalt, nickel, graphite, copper, and rare earth elements. These are crucial for the production of electric vehicle batteries, wind turbines, semiconductors, and electricity infrastructure. India’s initiative is part of a broader strategy to reduce dependence on foreign suppliers and bolster domestic exploration, processing, manufacturing, and recycling capabilities.
Central to this push is India’s National Critical Mineral Mission, approved in January 2025, with a government allocation of Rs 16,300 crore. The mission aims to attract an additional Rs 18,000 crore in investment. Plans include undertaking 1,200 domestic exploration projects and securing overseas mining assets through public and private enterprises. Notably, state-owned Khanij Bidesh India Ltd has partnered with Argentina’s CAMYEN to explore five lithium blocks spanning 15,703 hectares. Collaborative efforts with Australia, Germany, and Norway further highlight India’s commitment to securing these critical resources.
Globally, governments are increasingly engaging in cooperation agreements and memorandums of understanding to secure mineral supplies and develop domestic processing industries. However, transparency concerns persist, as 39 percent of the agreements analyzed did not have publicly available texts.
The intense competition for critical minerals underscores the necessity for India to advance beyond merely securing raw materials. Building strong domestic manufacturing capabilities, establishing sustainable supply chains, and creating employment opportunities are imperative as the global demand for clean energy technologies continues to rise.