India Approves ₹17,314 Crore Cabinet Schemes for Critical Mineral Processing and Energy Storage
The Union Cabinet has approved ₹2,814 crore for critical mineral processing plants (Lithium & Nickel) and ₹14,500 crore for 92 GWh grid-scale energy storage. Read full policy details. Strengthening Domestic Supply Chains The global market for critical minerals particularly lithium, nickel, and cobalt faces concentrated processing capacity. To protect domestic industries against supply disruptions, the Union Cabinet chaired by Prime Minister Narendra Modi approved targeted capex subsidies and financial support schemes over a five-year period (FY 2026–27 to FY 2030–31). Main Event: Capex Support & Viability Gap Funding 1. Critical Mineral Processing Scheme (₹2,814 Crore) Outlay: ₹2,814 crore. Subsidy Rate: 30% capex support for four processing facilities (2 Lithium, 2 Nickel). Financial Cap: ₹500 crore per lithium plant (min. 30,000 tonnes capacity) and ₹900 crore per nickel plant (min. 50,000 tonnes capacity). Key Targets: Electric mobility, battery storage systems, electronics,...