The Union Cabinet has approved an incentive scheme worth Rs 15 billion to promote the development of recycling capacity for critical minerals from secondary sources.
It is a part of of the National Critical Mineral Mission, the six-year scheme will support extraction of minerals from e-waste, lithium-ion battery scrap, and other industrial waste streams. The scheme will offer a 20 per cent capital subsidy and performance-linked operational subsidy on incremental sales, with limits of Rs 500 million for large entities and Rs 250 million for small entities. It targets the creation of 270 kilo tonnes (kt) of annual recycling capacity and 40 kt of critical mineral output, attracting Rs 80 billion in investment. The scheme will be open to new and existing units, including start-ups.