2 weeks ago

PM Modi: India signing pacts to secure critical minerals

PM Modi: India signing pacts to secure critical minerals
India signing pacts with multiple countries to secure critical minerals: PM · m.rediff.com

India's leader, Prime Minister Narendra Modi, gave a big speech on Independence Day from a famous old fort called the Red Fort.

He told the nation that India wants to make sure it has enough special rocks and metals called critical minerals.

These minerals are very important because they are used to make things like batteries for electric cars, wind turbines and electricity wires.

He said the whole technology world depends on these minerals.

India is making agreements with many other countries to get these minerals.

India has also started a special mission called the National Critical Mineral Mission to explore for these minerals inside the country.

The government is putting aside a lot of money for this mission, and public companies will add even more.

India plans to build four special parks in different states where these minerals can be processed into useful materials.

The parks will focus on lithium and nickel, which are very important for making batteries.

Many nations around the world are now trusting India in this important work.

Key facts

Government funding for NCMM
Rs 16,300 crore earmarked; public sector enterprises expected to contribute Rs 18,000 crore
Critical mineral processing parks
4 parks planned in Gujarat, Maharashtra, Andhra Pradesh and Odisha
Priority minerals for parks
Lithium and nickel, prioritised for the battery sector
Key critical minerals
Copper, lithium, nickel, cobalt and rare earths
Applications
Wind turbines, electricity networks, electric vehicles and battery manufacturing
Budget initiative
Critical Mineral Corridor announced in the budget

Quotes

Prime Minister Narendra Modi

Prime Minister of India

“Discussion is taking place regarding critical minerals…The goals for critical minerals are being shared; we have launched the National Critical Mineral Mission. In the budget, we announced the Critical Mineral Corridor.”
m.rediff.com
“Agreements are being made with multiple countries. Many nations worldwide are now trusting India in this pursuit of critical minerals.”
m.rediff.com

Sources

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