New Delhi, May 26 (IANS). India and the US on Tuesday signed a strategic agreement aimed at enhancing cooperation in the field of critical minerals and rare earth elements. These are the same essential substances that are used in making semiconductors, electric vehicles, solar panels and high-tech defense equipment.
This agreement has been reached at a time when there is increasing concern in the world about China’s dominance over these important resources. It is believed that this gives China the power to influence the global supply chain.
This agreement took place during the meeting of Quad Foreign Ministers, in which Foreign Minister S. Jaishankar and US Secretary of State Marco Rubio were present.
During this, Foreign Minister S. Jaishankar said, “Today we are signing a framework between India and America, the purpose of which is to secure the supply of critical minerals and rare earths. We have also discussed this in the Quad meeting. Whether we do it between two countries, through the Quad or as a large group of like-minded countries, it is necessary and important considering the need of the hour.”
He said that the objective of this framework is to increase cooperation across the entire supply chain, which includes mining, processing, recycling and related investments.
US Secretary of State Marco Rubio said that this agreement has been made because India and America have common strategic interests. He says that strong and innovation-based economies cannot depend on things that are available only from one country or one source. Otherwise that country can use it to create pressure.
He said that during his visit to India in the last few days, he has talked several times about the importance of India-US strategic partnership. This agreement is a concrete example of that partnership.
Rubio also said that the foundation of this agreement was laid on February 4, when India participated in the ‘Critical Minerals Forum’ held in Washington DC.
He also mentioned the signing of ‘Pax Silica Declaration’ by India. It is a US-led group that aims to create secure and reliable supply chains for Artificial Intelligence (AI), semiconductors and critical minerals.
–IANS
AY/VC
