Introduction

India’s clean energy transition is heavily dependent on access to critical minerals, making the visualisation of import dependence a strategic priority. To achieve its ambitious target of installing 500 gigawatts (GW) of non-fossil fuel electricity capacity and meeting 50% of energy capacity from renewables by 2030, India requires a massive expansion of solar, wind, batteries, and electric vehicles (EVs). These technologies are reliant on secure supplies of critical minerals. Given the long gestation periods for domestic mining, which often exceed a decade, international trade remains essential for meeting near-to-medium-term demand. However, the global landscape is becoming complex due to supply concentration, resource nationalism, and policies like friend-shoring, which lead to price volatility and supply disruptions.

Cobalt imports

Cobalt is vital for lithium-ion battery cathodes. India’s analysis focuses on cobalt oxides and hydroxides used in battery production. In financial year (FY) 2025, India’s total import value reached USD10 million (INR904 million) for a volume of 751 tonnes, a 30.63% increase from FY2024. Finland was the major partner, providing 59.77% of imports, followed by Germany (19.61%) and China (15.36%). Finland’s prominence is supported by its 7.2% share of global refined cobalt production and strategic EU extraction projects. Historically, a spike in imports from South Africa in FY2023 was attributed to logistical disruptions following flooding in Durban, a key export hub for the Democratic Republic of the Congo (DRC). Global supply remains concentrated, with approximately 70% mined in Congo and 78.6% processed in China.

Copper imports

Copper is critical for power generation and electrification. For copper ore and concentrates, India imported 2,300,000 tonnes in FY2025, valued at USD3.8 billion. Tanzania emerged as an unprecedented major partner, accounting for 50.34% of these imports, alongside Chile (23.72%) and Indonesia (7.11%). Chile remains a dominant global player, holding 19% of world reserves and contributing 23% of total output. In the copper cathodes segment, Japan is the primary supplier, providing 73.29% of imports in FY2025, though overall volumes decreased by 34.12% due to supply constraints and high prices. For copper oxides and hydroxides, Norway was the leading supplier at 59.91%. India faces challenges with falling copper grades and zero-duty imports affecting domestic smelters, necessitating an additional 1,000,000 tonnes of smelting capacity every five years to meet projected demand.

Graphite imports

Graphite is used as an anode material in batteries. India imported 60,000 tonnes of natural graphite in FY2025, with Mozambique (31.04%) and Madagascar (29.38%) as the top partners. China, which produces approximately 70% of global natural graphite and controls 90% of anode manufacturing, supplied 17.44%. Although India is not completely dependent on imports, it still sources over 60% of its needs from abroad. Synthetic graphite imports reached 57,000 tonnes, with China dominating the supply at 91.26%. China’s export controls on natural graphite have indirectly strengthened the position of synthetic graphite. Prices for natural graphite have been declining since 2023 due to an oversupplied market and a structural shift toward synthetic alternatives.

Lithium imports

Lithium compounds are essential for battery cathodes, with the energy sector accounting for over 90% of demand. For lithium carbonate, India’s imports in FY2025 totalled 1,000 tonnes, with Ireland (39.73%), Chile (32.04%), and China (20.12%) as major partners. While the import volume remained relatively stable, the value fell by 50% due to declining global prices. In the lithium oxide and hydroxide segment, imports rose by 75.19% to 2,000 tonnes. Chile (41.53%) and China (38.31%) were the primary sources. The report highlights that countries like Ireland and the Netherlands likely act as trading hubs rather than producers. India is actively exploring partnerships with Japan and South Korea to secure future supplies.

Nickel imports

Nickel is a key component in rechargeable battery cathodes. In FY2025, India imported 3,700 tonnes of nickel oxides and hydroxides, with Australia providing 64.69% of the supply. Although Australian sales weakened in 2024 due to low prices and competition from Indonesian supply, it remains a strategic partner under the Australia-India Economic Cooperation and Trade Agreement (ECTA). For nickel sulphates, Belgium was the dominant supplier (65.27%), serving as a processing hub for material primarily sourced from Australia, Canada, China, and Russia. India’s total nickel sulphate imports reached 2,000 tonnes in FY2025. Domestic companies like Vedanta have advocated for the removal of import taxes from Japan and South Korea to support the nascent EV industry.

Conclusion

The concentration of critical mineral imports poses significant supply risks, necessitating diversification to enhance energy security. India is pursuing this through diplomacy and international cooperation, with established partnerships in Australia and Japan and emerging ties with the US, EU, and various African and South American nations. Future resilience will require moving beyond government-level cooperation to deeper industry-level collaboration. Recommendations include strengthening collaboration in skills development, joint exploration and mining, technology transfer, and the establishment of co-located processing facilities, alongside scaled research and development and recycling initiatives.