India-US Rare Earths Deal Targets Resilient Supply Chains
India and the United States finalized a strategic pact regarding critical minerals and rare earths, enhancing collaboration to secure supply chains for vital resources crucial to semiconductors, electric vehicles, clean energy, and defense technologies, amidst rising global apprehensions about reliance on China-controlled supplies.
The agreement was finalized at the Quad Foreign Ministers' meeting, attended by External Affairs Minister S Jaishankar and US Secretary of State Marco Rubio.
"Today, we are formalizing a bilateral framework between India and the US to ensure the security of supplies for the mining and processing of critical minerals and rare earth elements."
"This is an issue we also addressed today during the Quad meeting; whether approached bilaterally, in the Quad format, or as a broader assembly of allied nations, it is very relevant and crucial," states EAM Jaishankar.
This framework seeks to enhance our collaboration throughout the full critical minerals and rare earth supply chain, which encompasses mining, processing, recycling, and associated investment, he stated.
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"It will enhance robust and varied supply chains, assist us in collaboration and financing, and support the efficient management of essential minerals and rare earth elements..." "It is yet another indication of the strength of our collaboration in a world filled with numerous challenges as well as abundant opportunities," states the EAM.
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"I have frequently discussed in recent days the strategic partnership between the United States and India and its significance for our national interests in the United States."And today serves as a concrete illustration of it. "We are two nations with strategic interests in securing dependable long-term access to essential minerals and supply chains vital for our innovation economy," stated Marco Rubio.
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The deal follows over two months after US Ambassador to India Sergio Gor stated that Washington and New Delhi were “very close” to completing a vital minerals agreement that would support supply chains essential for advanced manufacturing, energy systems, and emerging technologies.