Brescia, June 5 -- Commerce and Industry Minister Piyush Goyal has cautioned that the world's heavy reliance on a handful of countries for critical mineral supplies poses a significant threat to global economic development, calling for urgent diversification of supply chains.

Speaking to reporters during his visit to Italy, Goyal emphasised the vulnerability created by the geographical concentration of both mineral extraction and processing capabilities, particularly as these materials become increasingly vital for the global transition to clean energy.

"I think it is important that the world recognises the danger of critical minerals, and supply and processing being concentrated only in particular geographies, which at any point in tim...