New Delhi, May 28 -- An increased capital expenditure and focus on rare earth minerals may shape India's Viksit Bharat journey, according to a report by EY. It suggested that policy measures must balance consumption support with increased capital expenditure.

Also, India's long-term growth relies on building resilience through self-reliance in critical minerals. Critical minerals are those minerals that are essential for economic development and national security.

In June 2023, India has identified at least 30 critical minerals taking into account its requirements for sectors like defence, agriculture, energy, pharmaceutical, and telecom.

India has launched a National Critical Mineral Mission in 2025 to address this, but further suppor...