PLI scheme eyed for critical minerals

With an eye on China, the union government is likely to come up with a policy framework for critical mineral refining. Under the policy, the government may come up with an incentive scheme on the lines of the production linked incentive (PLI) scheme, said two people in the know of the development.

- Rituraj Baruah & Subhash Narayan

The mines ministry has prepared the policy draft in June after finalizing a list of 30 critical minerals that are required in a number key sectors including battery storage, telecom, defence among others.

"The policy framework for critical mineral refining would be aimed at boosting the segment through incentives. It is also likely to support recycling of minerals and may propose rationalization of GST. A draft of the policy has already been prepared," said one of the persons cited above.

Queries sent to the union ministry of mines remained unanswered till press time.