<p>New Delhi: In a major step to boost domestic supply chain resilience, the Union Cabinet on Wednesday approved a Rs 1,500 crore incentive scheme to promote recycling of e-waste and battery waste for the extraction of critical minerals.</p>.<p>“The Union Cabinet, chaired by Prime Minister Narendra Modi, approved a Rs 1,500 crore incentive scheme to develop recycling capacity for the separation and production of critical minerals from secondary sources,” the statement said.</p>.<p>This scheme is part of the National Critical Mineral Mission (NCMM).</p>.<p>The scheme will have a tenure of six years from FY 2025-26. Eligible feedstock is e-waste, Lithium Ion Battery (LIB) scrap, and scrap other than e-waste & LIB scrap, eg, catalytic convertors in end-of-life vehicles.</p>.<p>Expected beneficiaries will be both large, established recyclers, as well as small, new recyclers (including start-ups), for whom one-third of the scheme outlay has been earmarked.</p>.Karnataka govt nixes objections, seeks relook into mining project .<p>The scheme will be applicable to investments in new units as well as expansion of capacity/modernisation and diversification of existing units.</p>.<p>The incentives under the scheme will comprise 20% Capex subsidy on plant and machinery, equipment and associated utilities for starting production within specified timeframe, beyond which reduced subsidy applicable; and Opex subsidy, which will be an incentive on incremental sales over the base year (2025-26) viz. 40% of eligible Opex subsidy in the 2nd year and balance 60% in the 5th year from 2026-27 to 2030-31 on achievement of specified threshold incremental sales. </p>.<p>In terms of key outcomes, the scheme incentives are expected to develop at least 270 kilo tonnes of annual recycling capacity, resulting in around 40 kilo tonnes annual critical mineral production, bringing in about Rs 8,000 crore of investment and creating close to 70,000 direct and indirect jobs, the statement said.</p>
<p>New Delhi: In a major step to boost domestic supply chain resilience, the Union Cabinet on Wednesday approved a Rs 1,500 crore incentive scheme to promote recycling of e-waste and battery waste for the extraction of critical minerals.</p>.<p>“The Union Cabinet, chaired by Prime Minister Narendra Modi, approved a Rs 1,500 crore incentive scheme to develop recycling capacity for the separation and production of critical minerals from secondary sources,” the statement said.</p>.<p>This scheme is part of the National Critical Mineral Mission (NCMM).</p>.<p>The scheme will have a tenure of six years from FY 2025-26. Eligible feedstock is e-waste, Lithium Ion Battery (LIB) scrap, and scrap other than e-waste & LIB scrap, eg, catalytic convertors in end-of-life vehicles.</p>.<p>Expected beneficiaries will be both large, established recyclers, as well as small, new recyclers (including start-ups), for whom one-third of the scheme outlay has been earmarked.</p>.Karnataka govt nixes objections, seeks relook into mining project .<p>The scheme will be applicable to investments in new units as well as expansion of capacity/modernisation and diversification of existing units.</p>.<p>The incentives under the scheme will comprise 20% Capex subsidy on plant and machinery, equipment and associated utilities for starting production within specified timeframe, beyond which reduced subsidy applicable; and Opex subsidy, which will be an incentive on incremental sales over the base year (2025-26) viz. 40% of eligible Opex subsidy in the 2nd year and balance 60% in the 5th year from 2026-27 to 2030-31 on achievement of specified threshold incremental sales. </p>.<p>In terms of key outcomes, the scheme incentives are expected to develop at least 270 kilo tonnes of annual recycling capacity, resulting in around 40 kilo tonnes annual critical mineral production, bringing in about Rs 8,000 crore of investment and creating close to 70,000 direct and indirect jobs, the statement said.</p>
