New Delhi: The government said on Thursday that 58 companies have been approved as eligible to participate in the Incentive Scheme for Promotion of Critical Mineral Recycling, designed to strengthen India’s critical mineral security and promote a circular economy.
The scheme aims to develop domestic recycling capacity for critical minerals from lithium-ion batteries, e-waste, and industrial scrap—thereby reducing import dependence and supporting clean energy and advanced manufacturing sectors.
The scheme, with a total outlay of Rs 1,500 crore under the National Critical Mineral Mission, was notified on October 2, 2025, along with the issuance of detailed operational guidelines.
The application window ran from October 2, 2025 to April 1, 2026, and saw robust response from industry stakeholders. The proposals were evaluated by the Project Management Agency, Jawaharlal Nehru Aluminium Research Development and Design Centre, in accordance with the Scheme guidelines, the statement added.
Based on these evaluations, the Executive Committee approved 20 entities on March 30, 2026 and a further 38 entities on April 29, 2026, bringing the total to 58 eligible participants.
With a pledged capacity of about 850 KTPA and pledged investment of about Rs 5,000 crore, the selected companies represent key segments such as battery recycling, e-waste processing, and recovery from other waste — reflecting strong industry interest and momentum in building India’s critical mineral recycling ecosystem.
The next stage of the scheme is project execution, where capacity development and commencement of production from the eligible entities will be considered for financial support under the Scheme, the statement noted.
India has accelerated efforts to expand domestic production of rare earth permanent magnets and exploration of critical minerals such as lithium, targeting a production capacity of 5,000 tonnes by 2030, another official statement said in March.
The country’s current requirement of rare earth permanent magnets at about 4,000 tonnes is projected to rise to nearly 8,000 tonnes by 2030, highlighting the need for rapid expansion of domestic capabilities, according to Union Minister Dr Jitendra Singh.
(IANS)
