Cabinet Approves ₹2,814 Cr Capex Scheme for Lithium, Nickel Processing

4 Nov 2026, 6:19 pm · 14h ago · 1 min read · YourStory

The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved a ₹2,814 crore capital expenditure support scheme to boost domestic processing of critical minerals lithium and nickel over five years through 2030-31. Announced by Union Minister Ashwini Vaishnaw under the National Critical Mineral Mission, the initiative provides a 30% capital subsidy to set up four processing facilities, comprising two lithium and two nickel plants. Maximum capital support is capped at ₹500 crore per lithium beneficiary and ₹900 crore per nickel beneficiary to reduce import reliance for electric vehicles and clean energy.