Quest for Critical Minerals: An Indian Perspective
Rajeev Bidwai*
Scientist-H (Retired), Atomic Minerals Directorate for Exploration and Research and Expert, Geosciences, Mineral Exploration and Consultancy Limited, Nagpur
*Corresponding Author: Rajeev Bidwai, Scientist-H (Retired), Atomic Minerals Directorate for Exploration and Research and Expert, Geosciences, Mineral Exploration and Consultancy Limited, Nagpur.
Published: September 02, 2025
DOI: 10.55162/MCET.09.293
Abstract
Globally, critical minerals market size reached US$ 328.19 billion in 2024 and is expected to reach US$ 586.63 billion by 2032, growing with a CAGR of 7.53% during the forecast period 2025-2032 (Data M Intelligence, 2025). This unprecedented growth is an accelerating transition to clean energy technologies with big leap in demand for lithium, cobalt, and nickel.
Critical minerals are essential for a country’s economic development and national security. The limited availability or concentrated extraction and processing in a few geographical locations can create supply chain vulnerabilities or disrupt critical industries. Critical minerals like Antimony, Beryllium, Bismuth, Cadmium, Cobalt, Copper, Gallium, Germanium, Graphite, Hafnium, Indium, Lithium, Molybdenum, Niobium, Nickel, PGE, Phosphorus, Potash, REE, Rhenium, Selenium, Silicon, Strontium, Tantalum, Tellurium, Tin, Titanium, Tungsten, Vanadium, and Zircon would influence global economies and are indispensable for sectors such as high-tech electronics, telecommunications, transport, and defence. They are also pivotal for the transition to a low-carbon economy to achieve global ‘Net Zero’ commitments through renewable energy technologies.
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