India is set to implement incentives for the recycling of 24 essential minerals, such as lithium and cobalt, within this year, as part of its strategy to secure resources crucial for the transition to green energy, according to a report by Reuters. These minerals have been recognized as vital for achieving India’s clean energy objectives and its ambition to reach net zero greenhouse gas emissions by 2070. The initiative is designed to enhance India’s ability to recycle lithium-ion batteries, with plans to increase the current recycling capacity of 75,000 metric tons annually.To support this initiative, India has earmarked 15 billion rupees for the recycling of these minerals, with the investment planned to be utilized over the next four to five years, providing a significant boost to the industry. Furthermore, the government has recently eliminated customs duties on waste and scrap materials related to critical substances, including lead, zinc, cobalt powder, and lithium-ion batteries, in an effort to enhance supply. These materials are essential for the production of electric vehicles, which India is actively promoting to lessen its reliance on fossil fuels.
