India, US strike critical minerals deal: What’s in it, why does it matter?
Summary
India and the United States have signed a deal to work together on securing critical minerals and rare earth elements, which are important for technology and defense. This agreement aims to improve mining, processing, recycling, and investment in these minerals to reduce reliance on single suppliers like China.Key Facts
- India and the US signed a framework agreement to cooperate on critical minerals and rare earths.
- The deal was finalized in New Delhi between Indian External Affairs Minister Subrahmanyam Jaishankar and US Secretary of State Marco Rubio.
- Critical minerals are used in batteries, electronics, military equipment, semiconductors, and renewable energy products.
- The US depends heavily on imports for many critical minerals, often relying on China for supply and processing.
- China controls about 90% of the world’s rare earth mineral processing and has large deposits.
- The framework aims to protect supply chains from market manipulation and reduce dependence on single sources.
- India holds significant reserves of 30 identified critical minerals, including 13.15 million tonnes of monazite, which contains rare earth elements.
- The agreement connects to broader group efforts, including the Quad countries and US initiatives on secure supply chains for semiconductors and AI technology.
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