Overview
- Goyal, who spoke to reporters Friday, said India plans to stand up the entire EV battery value chain within two to three years.
- He said a government scheme to process critical minerals is in its final stage of approval, with details to follow once cleared.
- Because India lacks large-scale conversion to battery-grade materials, the government is weighing incentives to spur lithium and nickel processing at home.
- Overseas sourcing is moving in parallel, with Coal India, NTPC Mining and Hindustan Copper in talks with Codelco for four Chile blocks, and five lithium blocks in Argentina targeted to start output by 2029.
- To backstop private deals abroad, the government is discussing risk cover with the World Bank and ADB, while domestic reforms have lifted auctions to 212 blocks in 2025–26 to speed exploration and new mines.