Since January 2025, India has emerged as a significant player in the global race to secure critical minerals essential for clean energy technologies, signing 15 agreements focused on these resources. This effort places India ahead of several major economies, including China, Canada, Saudi Arabia, and the European Union, each with 11 agreements, though still behind the United States, which leads with 41 such deals.
The agreements target the acquisition of vital minerals such as lithium, cobalt, nickel, graphite, copper, and rare earth elements. These materials are crucial components in the manufacturing of electric vehicle batteries, wind turbines, semiconductors, and electricity infrastructure. Through these partnerships, India aims to reduce its reliance on foreign suppliers and bolster its domestic capabilities in exploration, processing, manufacturing, and recycling.
This initiative is part of India’s broader National Critical Mineral Mission, approved at the start of 2025, with a government allocation of Rs 16,300 crore and a goal to attract an additional Rs 18,000 crore in investments. The mission envisions undertaking 1,200 domestic exploration projects and securing overseas mining assets through both public and private enterprises. Notably, state-owned Khanij Bidesh India Ltd has collaborated with Argentina’s CAMYEN to explore five lithium blocks spanning 15,703 hectares. Additionally, India is pursuing joint investment ventures in lithium and cobalt with Australia and has expanded its cooperation with Germany and Norway.
As countries worldwide intensify their efforts to secure mineral supplies and develop domestic processing industries, concerns about transparency persist. A significant portion, 39 percent, of critical minerals agreements analyzed lack publicly available texts, raising questions about their openness.
The intensifying competition for critical minerals underscores the necessity for India to not only secure raw materials but also to enhance its domestic manufacturing capabilities. Building sustainable supply chains, creating employment opportunities, and strengthening industrial capacity will be vital as the global demand for clean energy technologies continues to rise.