New Delhi, Jan. 31 -- As India has set ambitious energy-transition goals, the Economic Survey for FY25 has cautioned the government about the risk of high import dependence to achieve these targets.

"Energy transition plans must be mindful of geopolitical vulnerabilities and avoid deepening India's dependence on external sources for critical imports. Strategic thinking is warranted," wrote V. Anantha Nageswaran, the chief economic advisor to the Government of India, in the preface to the survey.

His caution underscores the requirement of critical minerals for energy-transition components, including solar modules and batteries. And India is not a major producer of these minerals, while the supply chain is dominated by China.

To be sure,...