In Short : A ₹1,500 crore incentive program has been authorized by the Union Cabinet to encourage the recycling of rare earth elements, lithium, cobalt, nickel, and other vital minerals. The action intends to lessen reliance on imports and improve the security of India’s clean energy technology supply chain.
Encouraging Innovation and Strategic Growth
The program will create chances for businesses, research institutes, and startups to create cutting-edge recycling technology by promoting mineral recycling. It is anticipated to promote innovation in EV parts, battery materials, and renewable energy storage technologies, strengthening India’s independence in vital areas.
Impact and Significance of Clean Energy
Wind turbines, solar panels, and EV batteries all require critical minerals. In addition to reducing the carbon impact, recycling them will guarantee a sustainable and circular economy, bolstering India’s clean energy transition and net-zero pledges.
