At the India Mining Summit 2025 in New Delhi, NITI Aayog member Arvind Virmani raised concerns about the heavy concentration of the world’s critical mineral supply in China, warning that the issue has global implications.

Virmani noted that while critical minerals are found across the globe, nearly 80–90 per cent of metal processing and supply is controlled by China. “We would call that a monopoly,” he remarked, stressing the need to diversify global supply chains.

China’s position as the dominant producer of rare earth elements has triggered worldwide anxiety, particularly after it imposed export restrictions. Virmani said the challenge is not limited to India: “The whole world is scrambling to create new technologies. It benefits everybody except the monopolists.”

India has launched the National Critical Mineral Mission (NCMM) to boost domestic exploration, processing and recycling. Virmani also highlighted opportunities for collaboration with countries such as Peru and several African nations rich in untapped mineral reserves.

Responding to Taiwan’s interest in sourcing rare earths from India, Virmani cautioned that India is not a major producer except in specific resources such as iron ore and titanium-bearing monazite sands found in eastern states and Kerala.

He said renewed focus on rare earths would spur technological investigation and economic evaluation, ensuring India contributes to a competitive global supply chain.