Eninrac Consulting’s latest market insight underscores that India’s critical minerals sector is at the cusp of transformation, with a projected ₹1.2 lakh crore (US$15 billion) growth opportunity by 2030. The growth will be driven by policy reforms, domestic exploration, recycling, and strategic global partnerships, positioning India to reduce import dependence and emerge as a competitive global player.
India has identified Lithium, Cobalt, Nickel, Copper, and Rare Earth Elements (REEs) as pivotal resources for driving its clean energy transition and technological independence. These minerals are essential for:
Electric Vehicles & Battery Storage (Lithium, Cobalt, Nickel)
Power Infrastructure & Grid Modernization (Copper)
High-Tech & Defense Manufacturing (Rare Earth Elements)
Yet, India remains 70%–100% import dependent for most of these minerals, particularly lithium and cobalt, underscoring the urgency for domestic development and supply chain resilience.
Launched in 2025, NCMM is backed by an investment outlay of ₹34,300 crore through 2031. The mission is designed to:
Identify 1,200 domestic deposits
Scale 270-kilotonne recycling capacity
Support Centres of Excellence for innovation
Enable overseas acquisitions via KABIL
Reduce import dependence by diversifying sources beyond China
India’s critical minerals market to exceed $10 billion by 2030, growing at 12%+ CAGR
Lithium demand to rise 10x by 2030, driven by EV adoption
Copper demand expected to double, fueled by renewable energy expansion
Recycling & urban mining to recover 40 Kt annually, creating 70,000+ jobs
India’s trade strategies are shifting towards Latin America, Africa, and Australia to secure lithium, cobalt, and copper, while reducing overdependence on China. Bilateral agreements with Chile, Peru, Argentina, and Australia are expected to reshape India’s mineral trade landscape.
We have emphasizes that a comprehensive assessment of India’s critical minerals ecosystem—spanning exploration, processing, recycling, trade, and technology—will be critical for unlocking this multi-billion-dollar opportunity and securing India’s strategic autonomy against global competition.
We invite you to explore the full depth of our analysis in “India Critical Minerals Market 2025–2030: Domestic, Export, Value Chain, Investment Trends and China Comparison.” → Download / read the full report here: India’s Critical Minerals Market
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