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The government on Wednesday said 125 new projects have been launched in the current fiscal year to explore critical minerals.
The demand for critical and strategic minerals is very high and is usually met through imports. Critical minerals are used in various sectors including renewable energy, defence and agriculture.
“I am happy to announce that this fiscal year we have initiated 125 new projects for exploration of critical minerals,” Mines Secretary VL Kanta Rao said at an event in New Delhi.
Besides this, he said the government is giving 25 per cent incentive on discovery of critical minerals by exploration agencies.
Recently, through amendment in the Mining Rules, 24 minerals have been notified as important and strategic minerals.
India has committed to achieve 50 percent of its total installed electric 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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