India's Exploration Licence Model Aims to Boost Mining Sector and Support Startups

India's mining industry is shifting focus from bulk mineral extraction to essential minerals like lithium, cobalt, and nickel. The government introduced the Exploration Licence model to enhance private sector participation, reduce imports, and strengthen domestic mineral security. This initiative opens opportunities for startups in the evolving industrial sector driven by the demand for electric vehicles, renewable energy, and advanced technologies.

Published Mar 30, 2026

The Indian mining industry is transitioning to meet the growing demand for essential minerals critical for electric vehicles, renewable energy, and advanced manufacturing. The government has introduced the Exploration Licence (EL) model to reform the mining sector, aimed at increasing private sector involvement and reducing reliance on imports.

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This policy aligns with the need for minerals such as lithium, cobalt, nickel, and rare earth elements, which are vital for technologies like batteries and semiconductors. The EL model presents new opportunities for startups to enter this crucial industrial sector.