Rare Earth Companies in India Vedanta’s Critical Minerals Vision
                     INDIA · CRITICAL MINERALS
India’s critical-
minerals future 
will be built, 
not imported
The strategic question is no longer whether India has potential. It is whether 
the country can build the chain that turns potential into resilience.
WHY THIS MATTERS
Rare earths sit underneath 
the technologies India 
wants to scale
• Permanent magnets, batteries, semiconductors, 
wind turbines, smartphones and defence systems 
depend on critical mineral inputs.
• Electric vehicles, renewable power, AI hardware 
and advanced manufacturing are increasing the 
strategic value of secure supply.
THE EXPOSURE
India has geological 
potential, but the value 
chain remains exposed
Import dependence makes clean-energy and high-
tech ambitions vulnerable to price shocks, export 
controls and supply-chain disruption.
The strategic gap is broader than mining: India needs 
exploration, beneficiation, refining, recycling and 
manufacturing capacity.
NATIONAL CRITICAL MINERAL 
MISSION The National Critical Mineral 
Mineral Mission turns mineral security into national infrastructure
security 
becomes The mission covers the full system required to secure supply.
national 
infrastru Explore Mine Process
cture
EXECUTION WINDOW · FY2024–25 TO FY2030–31
NCMM’s targets create room for private-
sector execution
The mission aims to accelerate:
Domestic production Processing parks
1,200+
exploration projects planned
Private participation can help move 
promising resources from geological Overseas asset Recycling
potential to commercial supply. acquisition
Source: PIB. Target period: FY2024–25 to FY2030–31.
THE VALUE CHAIN
The real opportunity is the mine-to-
manufacturing chain
01 02 03 04
Explore Mine and refine Recover Manufacture
Identify viable Mine, beneficiate Recover minerals Convert secure 
deposits. and refine with from tailings, inputs into metals, 
stronger domestic overburden and components and 
capabilities. end-of-life products. technology products.
VEDANTA
Vedanta brings an 
existing metals 
platform to the critical-
minerals conversation
Vedanta describes itself as a producer of metals, critical 
minerals and technology across multiple geographies.
Its portfolio spans copper, zinc, lead, silver, nickel, ferro 
alloys and glass substrate.
Source: Vedanta Limited.
INDUSTRIAL DEPTH
Its strongest contribution is industrial 
depth, not a single mineral
Scale Execution Ambition
Scale, processing know-how Project execution and Vedanta’s stated ambition is 
and infrastructure can downstream relationships to support “Make in India 
shorten the path from can connect industrial for the world” while building 
resource to usable material. materials to demand. a more sustainable natural-
resources platform.
THE NEXT MANUFACTURING WAVE
Vedanta’s EV-materials push 
connects minerals to India’s 
next manufacturing wave
₹21,000 crore+
Vedanta reports investing more than ₹21,000 crore 
through FY26 to build India’s electric-vehicle 
metals ecosystem.
The strategic test is whether this industrial base can 
expand into higher-value materials, recycling and 
technology partnerships.
Source: Vedanta Limited.
THE TEST
Four moves will determine 
whether India converts 
potential into resilience
1 Pair exploration with faster approvals and bankable 
processing projects.
2 Build domestic capability in refining, separation, 
recycling and recovery.
3 Use overseas assets and partnerships to diversify 
supply without abandoning local capacity.
4 Link mineral policy to downstream manufacturing 
demand.