Suryaa National Desk: The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved a capital expenditure support scheme worth ₹2,814 crore to promote the domestic processing of lithium and nickel. Union Minister of Coal and Mines G. Kishan Reddy stated that the scheme aims to establish large-scale commercial processing plants for these critical minerals to strengthen the supply of raw materials for electric vehicles and battery manufacturing.
The initiative targets an annual processing capacity of 60,000 tonnes of lithium and 100,000 tonnes of nickel. According to the Minister, this capacity is intended to meet domestic demand projections for 2030. The government estimates that the scheme will attract approximately ₹10,000 crore in private investment and generate production valued at ₹25,000 crore. The program is also expected to facilitate the transfer of modern technology and create employment opportunities for skilled professionals.
Officials stated that the decision is designed to protect domestic industries from geopolitical uncertainties and supply chain disruptions in international markets. By reducing dependency on imports, these processing centers are intended to support the objectives of the 'Aatmanirbhar Bharat' initiative.
