The Arctic region is known for its diverse mineral wealth. Key resources include coal, gypsum, diamonds, and substantial deposits of zinc, lead, placer gold, and quartz. Notably, this region holds approximately one-fourth of the world’s rare earth minerals. Additionally, the Arctic is rich in hydrocarbon resources, comprising about 13 percent of the undiscovered oil and 30 percent of the undiscovered natural gas on our planet.
India views the Arctic as a promising territory for future mineral exploration. The country’s approach aligns with the United Nations Sustainable Development Goals, emphasizing sustainable growth. To responsibly access these valuable resources, India plans to conduct surveys and collaborate with Arctic States.
China positions itself as a "Near Arctic State," significantly enhancing its presence in this region. The construction of the Polar Silk Road, which facilitates critical shipping routes through the Arctic, underlines China’s expanding interests in tapping into these mineral resources.
While pursuing mineral exploration, India remains mindful of the importance of environmental sustainability. The Arctic's delicate ecosystem necessitates careful regulation and monitoring, alongside thorough assessments of the impacts of increased human activity.
Although India lacks a direct presence in Arctic shipping lanes, such as the Northern Sea Route (NSR), its Arctic policy acknowledges the future significance of this route in global trade, potentially complementing the Suez Canal.
The proposed Chennai Vladivostok Maritime Corridor aims to establish a shipping route connecting India with Russia via the Arctic. This initiative seeks to enhance bilateral trade and reduce reliance on China’s Belt and Road Initiative. Moreover, it promises to decrease travel times and shipping costs, providing an alternative to the Suez Canal.
The INSTC is a multimodal freight corridor linking India, Iran, and Russia, offering an alternative to Chinese trade routes. Although it does not directly traverse the Arctic, it plays a crucial role in enhancing India’s connectivity and future involvement in Arctic trade.
India faces various challenges in its Arctic mineral exploration efforts, including harsh environmental conditions, logistical hurdles, high exploration costs, and the necessity to coordinate with Arctic States for sustainable practices. The country must also address the concerns of indigenous populations and environmental advocates.
India is dedicated to balancing its exploration initiatives with environmental protection. The country aspires to engage in responsible mining practices, comply with international regulations, and collaborate with other Arctic States to minimize adverse impacts on the ecosystem.
The mineral and hydrocarbon resources of the Arctic hold significant potential for supporting India’s future energy requirements and securing raw material needs. However, India envisions this endeavor as part of a balanced strategy that merges economic objectives with responsible environmental stewardship.
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