Union Cabinet likely to consider Rs 2,800-crore critical minerals capex scheme

The Union Cabinet is likely to consider a new Rs 2,800-crore capex support scheme on Wednesday for processing critical minerals like lithium and nickel.

The proposed scheme aims to provide a 30% capital subsidy to set up four processing plants to build domestic supply chain capabilities and reduce dependency on China.

The initiative is expected to support sectors such as electric mobility, battery energy storage systems, electronics, and defense.