New Delhi, Nov. 9 -- India's efforts to strengthen energy security and reduce dependence on imported energy and critical minerals are expected to gain momentum with the government's latest policy measures to expand grid-scale energy storage capacity and promote domestic critical mineral processing, according to an ICICI Securities report.

The report said the Union Cabinet's approval of a Rs 14,500 crore viability gap funding (VGF) scheme for developing 92 GWh of grid-scale energy storage capacity, alongside a Rs 2,800 crore capital expenditure support scheme for critical mineral processing, marks an important step towards building domestic capabilities in these strategic sectors.

According to the brokerage, the measures assume greater s...