Cabinet approves Rs 2,814 Cr scheme to promote processing of lithium, nickel
India's Union Cabinet, chaired by PM Narendra Modi, approved a capex support scheme aimed at building domestic processing infrastructure for lithium and nickel through 2030-31. The scheme provides 30% capital subsidy for setting up four processing plants—two lithium and two nickel facilities—with maximum support capped at Rs 500 crore per lithium project and Rs 900 crore per nickel project. The initiative aims to reduce import dependence, enable domestic value addition, and support clean energy technologies including solar and electric vehicles.
Key points
- Rs 2,814 Cr capex scheme approved for critical mineral processing through 2030-31
- 30% capital subsidy for four processing plants: 2 lithium, 2 nickel facilities
- Maximum support: Rs 500 Cr per lithium and Rs 900 Cr per nickel beneficiary
- Targets domestic capability, reduced import dependence and low-carbon economy
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