India, US Strike Critical Minerals Deal Amid China Concerns: All You Need To Know

On sidelines of the Quad Foreign Minister's meeting, India and the US have agreed upon the framework for cooperation to ensure steady supplies of critical minerals amid concerns linked to China's super dominance on rare earth elements and strategic metals critical for artificial intelligence and global technology supply chains.

While this key framework agreement was inked between both countries, US Secretary of State Marco Rubio noted India’s growing importance in US strategic planning, especially in the technology and manufacturing sectors.

"It is something very timely and critical," External Affairs Minister S Jaishankar said in the presence of US Secretary of State Marco Rubio.

The agreement comes after several deliberations were held last year in Washington DC, where the US Secretary of State Marco Rubio launched the Forum on Resource Geostrategic Engagement (FORGE), which is aimed at strengthening cooperation among trusted partners on mineral security.

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According to a statement from the US Embassy, the framework aims to build trusted networks for sourcing and processing strategic minerals while reducing dependence on single-country supply chains. The deal also focuses on protecting critical mineral markets from what both sides described as coercive market practices.

Under the new framework, India and the US are expected to work together on financing, supply chain resilience, mineral processing technologies and rare earth management.

External Affairs Minister S Jaishankar described the agreement as another sign of deepening ties between New Delhi and Washington. "It will strengthen resilient and diversified supply chains, help us to collaborate on financing and with the effective management of critical minerals and rare earths".