The Union Cabinet has approved a five-year scheme worth Rs 2,814 crore to encourage the refining of critical minerals such as lithium and nickel. The decision was announced on November 4, 2026.
In a statement, Prime Minister Narendra Modi asked whether India should depend on other countries to refine the minerals that will power its future, and answered that he did not think so. He noted that lithium, nickel and cobalt are essential for electric vehicles, batteries, electronics and defence, yet India still relies heavily on imports of refined minerals. The Cabinet’s approval, he said, is meant to change this situation.
The key features of the scheme include:
- Critical mineral refining plants
- Capital subsidy to support investment
- Stronger supply chains
The Prime Minister said the policy direction is clear: India must have the capability to develop future technologies.
The Cabinet also approved a scheme for statistical transformation, analysis and research for the period 2026-2031, titled as a model for a developed India (referred to as VISTAAR). Mr Modi said better data leads to better decisions and policies, and ultimately better outcomes for people. He added that the scheme aims to transform India’s statistical system.
