The PHD Chamber of Commerce and Industry (PHDCCI) has called for the creation of a dedicated Department of Critical Minerals and proposed aggressive mineral diplomacy to secure India’s access to key resources amid global supply chain uncertainties.
Speaking at a session on “Critical Minerals: Way Forward to Overcome Global Supply Chain Uncertainties,” industry leaders highlighted the strategic importance of minerals in India’s energy transition and industrial competitiveness.
Anil Chaudhary, Senior Member of PHDCCI’s Minerals & Metals Committee and former SAIL Chairman, urged the government to include coking coal in the list of critical minerals, noting India imports 90 per cent of its requirements, costing USD 15 billion annually. Chaudhary recommended forging strategic partnerships with mineral-rich smaller nations, including Congo, Mozambique, Afghanistan, and Latin American countries, to reduce dependence on China.
Other experts called for a holistic, mission-mode approach to critical mineral development. Deepak Bhatnagar of the Pellet Manufacturers’ Association of India suggested building the entire supply chain—from exploration and extraction to processing, value addition, and commercialisation mirroring China’s National Mission model.
Abhinav Sengupta of PwC highlighted that the global energy transition is mineral-intensive: offshore wind is seven times more mineral-heavy than natural gas plants, EVs six times more than conventional vehicles, and solar PV and onshore wind two to three times more than fossil fuel power, making domestic mineral security essential for energy self-reliance.
Research consultant Meheli Roy Choudhury stressed diversification of import partners, citing alternatives to China, such as Chile for lithium, Japan and Belgium for nickel, and Finland for cobalt, advocating mutually beneficial G2G partnerships that combine mineral supply with infrastructure, technology, and capacity-building projects.
The session underscored that integrating geopolitics with mineral strategy is crucial for India’s industrial growth, energy transition, and national security, calling for inter-ministerial coordination, incentivisation of private investment, and stockpiling of critical minerals as part of long-term planning. |
