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India to set up ₹8,700cr fund for critical minerals
India is shaking up its mineral sector with a new bill that creates an ₹8,700 crore ($1 billion) fund to buy important minerals from abroad—think lithium for EVs and other tech.
The idea is to make sure the country isn't left scrambling for resources needed for electric vehicles and clean energy as demand keeps rising.
Bill also introduces electronic mineral exchanges
The bill also introduces electronic mineral exchanges, making trading more transparent and investment-friendly.
It streamlines the process to add new minerals to existing leases (no extra royalty fees), and lets companies sell leftover mineral dumps from their mines—so it's aiming for both efficiency and sustainability.
All these moves are about boosting India's mineral security in a fast-changing global market.