Hyderabad: Union Minister G. Kishan Reddy said critical minerals India strategy has gained importance as the country pushes for economic security and energy transition.
He spoke at an event at HICC, where the Union Ministry of Mines launched the second tranche of exploration licence auctions and the seventh tranche of critical and strategic mineral block auctions. Meanwhile, he noted that global factors are driving demand for these resources.
He said geopolitics, climate change, and economic security have increased the relevance of critical minerals. Moreover, he added that these resources are essential for achieving the Viksit Bharat 2047 goal.
Critical minerals India auctions expand with new blocks
Kishan Reddy said the government has successfully auctioned 46 mineral blocks so far. Further, authorities have started auctioning 19 more blocks under the seventh tranche.
He added that the first tranche of exploration licences has begun. In addition, the government will soon auction 11 more blocks in the second tranche.
In Telangana, officials have identified two blocks containing vanadium and titanium. Meanwhile, the Centre is introducing legal changes to speed up mining activity and allow states to conduct auctions independently.
He also outlined policy measures to support the sector. These include simplifying environmental clearances and removing customs duty on 24 minerals. Additionally, the government plans to offer incentives for companies that begin production early.
The minister said the government is focusing on recycling minerals from scrap. At the same time, it has initiated mining efforts in countries such as Australia and Argentina.
He emphasised that critical minerals are vital for defence, electric vehicles, and green energy. Therefore, he urged private companies to participate and said the government aims to position India as a global mining leader.