New Delhi, Nov. 10 -- India's efforts to reduce dependence on imported energy and critical minerals are set to receive a boost following the Centre's approval of two schemes worth a combined Rs 17,300 crore, according to an ICICI Securities report.

The Union Cabinet has approved Rs 14,500 crore in viability gap funding (VGF) for 92 GWh of grid-scale energy storage capacity and Rs 2,800 crore in capital expenditure support for domestic critical mineral processing.

The brokerage said the measures assume greater significance amid geopolitical uncertainties and the energy crisis triggered by the West Asia conflict, which have exposed vulnerabilities in global energy and mineral supply chains.

Rs 14,500 Crore Scheme To Expand Energy Storage...