India is considering establishing a strategic reserve of critical minerals for its use in emergency situations associated with defense industries, to join other countries that strengthen their efforts to develop local supply chains, according to a senior official. Rajish Kumar Singh, a senior defense official, explained that this reserve of metal and critical minerals will be used to cover “urgent needs” if necessary. His speech comes during a media event organized by the Daily “Business Standard” newspaper in New -Delhi on Saturday. This is the first time India has unveiled its intention to create a strategic reserve of this kind. The most important military equipment such as missiles, aircraft, radars and warships mainly depends on critical minerals, and any lack of availability can weaken the defense capabilities. Stress on the mineral market has dropped rare soil mineral flow from China since the beginning of April, after Beijing imposed restrictions on some of its exports. The move directly affects the rare magnetic supplies, a market in which China controls about 90% of world production, causing large industries to range from electric cars to wind turbines. Read more: China’s exports of rare mineral magnets to America, although China recently reduced its restrictions on rare mineral exports, the previous exploitation of its market domination as a pressure card that spurred Western businesses to look for two alternative suppliers. India incentive programs The Council of Ministers in India has recognized a 15 billion rupee ($ 170 million) program that aims to improve the recycling of critical minerals extracted from batteries and electronic waste, which improves the country’s efforts to ensure access to rare minerals and its benefits, according to Bloomberg. Also read: What are rare minerals? And why is it in the heart of the trade war? Earlier this month, India decided to classify rare soil mineral mines as ‘strategic projects’, reducing procedures and making environmental approvals faster, which Singh believes facing the mining operations. He added that “India already has reasonable shares of critical minerals according to all estimates, and we should use it better in the future.”
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