India has signed 15 agreements focused on critical minerals since January 2025, positioning itself as a key player in the global race to secure resources vital for clean energy technologies. These agreements put India ahead of China, Canada, Saudi Arabia, and the European Union, each with 11 agreements, though the United States leads with 41.
The deals aim to ensure supplies of essential minerals such as lithium, cobalt, nickel, graphite, copper, and rare earth elements, which are crucial for manufacturing electric vehicle batteries, wind turbines, semiconductors, and electricity infrastructure. India’s efforts are part of a strategic initiative to reduce reliance on foreign suppliers while bolstering domestic exploration, processing, manufacturing, and recycling.
Central to this effort is the National Critical Mineral Mission, approved in January 2025, with a government allocation of Rs 16,300 crore and a goal of attracting Rs 18,000 crore in additional investments. Under this mission, India plans to undertake 1,200 domestic exploration projects and acquire overseas mining assets through both public and private companies.
State-owned Khanij Bidesh India Ltd has already partnered with Argentina’s CAMYEN to explore five lithium blocks spanning 15,703 hectares. Additionally, India is investigating joint investment opportunities in lithium and cobalt with Australia and has expanded collaborations with Germany and Norway.
Globally, governments are increasingly engaging in cooperation agreements and memorandums of understanding to secure their mineral supplies and develop domestic processing capabilities. However, transparency remains a concern, as 39 percent of the critical minerals agreements analyzed lack publicly available texts.
The escalating competition for critical minerals underscores the need for India to advance beyond raw material acquisition by developing robust domestic manufacturing capabilities. As global demand for clean energy technologies grows, creating sustainable supply chains, generating employment, and strengthening industrial capacity will be vital for India’s future in this sector.