PM Modi Fast-Tracks Critical Mineral Acquisition, Boosts Recycling for Green Future

• PM Narendra Modi reviewed progress on overseas critical mineral acquisitions and a ₹1,500-crore recycling incentive scheme.
• Overseas acquisitions are crucial for India's long-term economic and strategic interests, ensuring stable supply chains for sectors like electric mobility and renewable energy.
• The recycling scheme aims to develop 270 kilotonnes/year capacity, producing 40 kilotonnes/year of critical minerals, attracting ₹8,000 crore investment and creating 70,000 jobs.
• These initiatives are part of the National Critical Mineral Mission, a ₹16,300-crore project to achieve self-reliance and accelerate India's green energy transition.
• Discussions also covered the availability of rare earth elements, vital for modern industries and reducing import dependence.

Why It Matters: PM Modi drives India's critical mineral self-reliance for energy transition and economic growth.