Amid growing global demand for rare earth elements, a Parliamentary panel has called for increased government support for IREL (India), the only company in India mining and refining these critical minerals. 

The Standing Committee on Coal, Mines, and Steel has recommended a focused budgetary boost for IREL to prioritise exploration and mining of rare earths, aiming to reduce India’s heavy reliance on imports. Rare earth elements are essential for clean energy technologies such as wind turbines, hybrid car batteries, electric motors, and solar energy, as well as for defence applications. The Committee, in its latest report has emphasised the need for the government to create strategies for domestic availability and economic viability. It also suggested international collaborations to advance mineral processing capabilities.  

"The government should consider strengthening existing institutions like IREL through targeted budgetary allocations to prioritize the exploration and mining of rare earth elements," the report stated. IREL is expanding its production capacity and R&D efforts to support the growing demand.