Mumbai, Nov. 4 -- The Union Cabinet has approved the 'Capex Support Scheme to Promote Critical Mineral Processing' with a financial outlay of Rs.2,814 crore over a period of five years. Processing of critical minerals remains geographically concentrated in a few global locations. This exposes supply chains to geopolitical disruptions, price volatility, and potential supply restrictions, posing severe threats to supply chain resilience and economic security. This has implications for national security, economic sovereignty, and the timely achievement of decarbonisation targets.

At present, India remains substantially dependent on imports for refined intermediates and high-purity materials, owing to the nascent stage of domestic beneficiat...