India, April 9 -- The union government reportedly plans to launch an incentive scheme later this year for the recycling of 24 critical minerals including lithium and cobalt.

Sources told Reuters that the sops could take the form of "subsidies on capital expenditure" or production-linked-incentives (PLI). As per the report, the scheme will likely span a period of four to five years and would look to scale up India's capacity to recycle lithium-ion batteries.

It is pertinent to note that the Union Cabinet, in January this year, approved the National Critical Mineral Mission (NCMM) with a total outlay of INR 16,300 Cr. Under this, the government has identified 24 minerals as "critical" for meeting the country's net zero greenhouse gas emis...