Neha Mukherjee, a Rare Earth Expert and Research Manager at Benchmark Mineral Intelligence, has commended India”s National Critical Minerals Mission, describing it as a “good policy” indicative of a significant strategic evolution.
“It”s clearly showing a shift in the mindset from a resource holder to an active value chain participant,” Mukherjee stated, emphasizing the changing dynamics in India”s approach to critical minerals.
With a burgeoning global demand for rare earth elements (REEs), which are vital for clean energy technologies, electric vehicles, and advanced industrial applications, India is positioning itself as a potential leader in this sector. Currently, the country possesses approximately 6% of the world”s REE reserves, but its contribution to global production is less than 1%.
In response to this discrepancy, India is actively pursuing self-reliance through initiatives in mining, processing, and fostering international collaborations to enhance its role in the global market.
Mukherjee”s comments reflect a cautious optimism regarding India”s evolving position in the competitive landscape of critical minerals. As the country moves forward, its domestic market is seen as having the potential to develop into a robust alternative to the existing global manufacturing economy.
