The scramble for natural resources is not a new phenomenon. Every state, either developed or developing, is always found busy 'managing' resources for its sustenance and growth. Minerals (also called materials) is one crucial natural resource which plays a significant part in the development of both civilian and military industrial complexes of nation-states. There are a few minerals which are categorized as 'strategic' because of their importance for the industries and owing to natural and man-made difficulties in their procurement. This work debates the issues of strategic materials and their importance for nation-states. There has been an attempt here to contextualize the importance of strategic materials from a national security perspective. This study presents a macro view with regard to India's strategic minerals architecture and undertakes analysis to understand current and futuristic challenges and opportunities in this sector, and offers a few recommendations based on the assessment undertaken. Issues related to Rare Earth and New Materials are also discussed.