The government on Wednesday said 125 new projects have been launched in the current financial year for exploration of critical minerals.
There is high demand for critical and strategic minerals, and the demand is usually met by imports. Critical minerals are used in various sectors including renewable energy, defense and agriculture.
“I am happy to announce that in this financial year, we have launched 125 new projects for exploration of critical minerals,” Mines Secretary VL Kantha Rao said at an event in New Delhi.
Further, he said that the government is giving an incentive of 25 per cent on discovery of important minerals by exploration agencies.
Recently, 24 minerals were notified as critical and strategic minerals through an amendment to the mining rules.
India is committed to achieving 50 per cent of cumulative installed power capacity from non-fossil sources by 2030.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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