India plans to maximise the auction of critical mineral blocks by 2031, advancing its strategic push to secure domestic supply chains for minerals essential to the country’s green energy and technology sectors.

Speaking at a FICCI conference, Critical Minerals Matrix, Union Minister of State for Mines and Coal, Satish Chandra Dubey, outlined the government’s strategic approach to reducing import dependency for critical minerals. The announcement follows the recent launch of the National Critical Minerals Mission, which has allocated ₹34,300 crore over seven years to strengthen India’s position in the critical minerals sector.

“The government has already auctioned 24 critical mineral blocks domestically, and we aim to auction as many critical mineral blocks as possible by 2031,” the minister said. The initiative forms part of a broader strategy to enhance India’s mineral security and reduce vulnerability to international supply chain disruptions.

The minister emphasised the role of public-private partnerships in achieving these objectives. “We must work as complementary partners and as a team to build a self-reliant India,” Dubey said, urging increased private sector involvement in mineral exploration and extraction activities.

The announcement comes amid growing concerns about critical mineral supply chains, particularly for materials essential to electric vehicles, electronics manufacturing, and renewable energy systems. 

Jyoti Vij, Director General, FICCI, highlighted the economic significance of critical minerals. She emphasised that the launch of the National Critical Minerals Mission was timely, coinciding with increased budget emphasis on critical minerals, and would help boost production, recycling, and global acquisition of critical mineral assets to reduce dependence on imports and secure stable supply chains.

Vij announced the constitution of the FICCI Committee on Critical Minerals, which will work closely with the government and the industry stakeholders to address sector issues and leverage opportunities.

Dhiraj Nayyar, Group Chief Economist, Vedanta, highlighted the urgency of developing domestic resources, noting that electric vehicles require six times more minerals than conventional cars, whilst offshore wind infrastructure demands nine times more minerals than traditional power plants. “We don’t want to move from import dependence on oil to import dependence on critical minerals. The key is exploration,” Nayyar emphasised, calling for streamlined approval processes and increased flexibility in land allocation for exploration activities.

India’s critical minerals demand is poised for exponential growth across key sectors, according to a new FICCI-Deloitte report, “Recovery of Critical Minerals from Mine Tailings and Overburden,” launched by the minister at the conference. 

The report outlines four key strategic areas for development: policies and incentives, extraction processing technologies, supply chain integration, and capacity building. It recommends establishing Critical Mineral Recovery Zones with public-private partnerships, creating a nationwide assessment database for mine tailings, and developing dedicated regulatory frameworks for mineral extraction.

Besides, it emphasises the importance of international collaboration and suggested India could learn from successful models implemented in Australia, the United States, Japan, and Canada, where specific funds and collaborative development programmes support critical mineral recovery from tailings.