India eyes major role in clean energy race with 6% of global rare earth reserves

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.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.

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"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.