Author: Nandakumar Janardhanan
Energy Review, Vol 5. Issue 03. 2023
As the current G20 Presidency, India can play a crucial role in ensuring a stable supply of critical minerals through collaboration among member countries. A comprehensive strategy should be developed that covers the entire value chain of critical minerals, from exploration and mining to processing and recycling. To encourage investment and sustainable supply chains, the government can collaborate with industry, share best practices and provide incentives for sustainable practices. Collaborating on research and development of new technologies that reduce reliance on critical minerals or find alternatives to them, as well as promoting innovation in the manufacturing sector, can also be beneficial. Strengthening international trade in critical minerals by promoting transparency, reducing trade barriers, and supporting responsible sourcing practices is crucial. Moreover, G20 countries should engage with non-member countries that are rich in critical minerals to ensure sustainable practices and a stable supply.
(Dr Nandakumar Janardhanan is Adviser with the Energy Review.) ■□■