HYDERABAD: Stating that the demand for EV batteries and renewable energy tech is likely to increase three times by 2030, Union Coal & Mines Minister G Kishan Reddy on Tuesday said that the country needs a strong research and development ecosystem that will help in fulfilling the needs of the future.
“Our scientists, engineers and industry partners will work together to innovate in exploration methods, processing of rare earths, recycling of batteries and developing next-generation materials,” he said.
The Union minister was addressing the gathering after launching the sixth tranche of auction of critical and strategic minerals in Hyderabad. He also presided over a seminar on National Critical Mineral Mission.
Kishan said that under the National Critical Mineral Mission, the Union Cabinet approved a Rs 1,500 crore financial incentive scheme to boost the country’s recycling capacity. “This initiative will attract investments worth around Rs 8,000 crore and create close to 70,000 jobs,” he added.
“The recent export restrictions and geopolitical challenges have highlighted the importance of indigenous technology in securing our critical mineral supply chain. As we strive to become the third largest economy and a developed nation by 2047, Atmanirbharta in critical minerals will play a key role,” he added.
