India, with 6 pc of global rare earth reserves, poised to become a credible alternative in the billion-dollar clean energy race

As the global shift toward clean energy accelerates, a strategic contest is unfolding for control over the minerals that power modern technology noted a research report by Kotak Mutual Fund.

- AGENCIES

Among them, Rare Earth Elements (REEs), the 17 metallic elements vital for electric vehicles, wind turbines, smartphones, and defence systems are fast being called the "new oil" of the 21st century.

"Invisible to most, rare earths are quietly powering the shift toward cleaner energy, stronger economies, and a smarter, more sustainable world," noted the report.

India, with an estimated 6 per cent of the world's rare earth reserves, is now emerging as a credible alternative source in this billion-dollar opportunity.

Though currently contributing less than 1 per cent of global REE production, India's vast geological potential, spanning coastal states like Kerala, Tamil Nadu, Odisha, Andhra Pradesh, and Gujarat, offers immense promise for the future.