Another scheme to develop a domestic value chain of processing battery minerals is nearing finalisation, he added.
He was speaking at a conference organised by the Materials Recycling Association of India (MRAI).
The scheme could generate an annual capacity to recycle 300,000 tonnes of ewaste by 2030, he said.
The recycling scheme, launched under the National Critical Mineral Mission, has approved 58 recyclers and is expected to help India emerge as a major global hub for critical-mineral recycling by 2030.
The programme incentivises recovering 27 critical minerals, with benefits linked to mineral extraction and processing rather than black mass production.
Alongside recycling, the government is moving to address a gap in the supply chain of critical minerals.
Goyal said the ministry was close to finalising the scheme for battery minerals after six rounds of stakeholder consultations.
Indian companies hold critical mineral assets overseas. They include lithium and cobalt resources in Africa and elsewhere, but the lack of processing infrastructure in the country has limited value addition here, he said.
The government is accelerating domestic exploration and mining. While the target is 1,200 exploration projects by 2031, Goyal said the ministry expected the number to exceed 2,000, supported by greater participation from private exploration agencies. So far, 571 projects have been completed and another 300 are expected to be completed this year.
In mining, India in FY26 auctioned a record 212 mineral blocks and operationalised 36 mines. They include 28 greenfield projects. The government is aiming to operationalise 50-60 greenfield mines this financial year.
To strengthen downstream processing, the ministry is supporting the establishment of four critical mineral-processing parks — one each in Andhra Pradesh, Gujarat, Odisha and Maharashtra.
Odisha has identified recycling as a key activity within its proposed park.
Goyal said the government expected the country to become self-sufficient in rare-earth elements such as zirconium and titanium by 2030 and begin exporting products based on these minerals in the following decade.
To improve the collection of recyclable material, the ministry is working on a national portal that would integrate recyclers and collection networks, including informal scrap collectors.
It has asked the NITI Aayog to study viability-gap funding for pilot collection projects, aimed at improving the recovery of critical minerals from waste streams.
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