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Concern in Delhi over not being part of US-led critical minerals alliance | Business News,The Indian Express

Given India’s EV and electronics push, rare earth minerals vital to growth.

THERE is growing concern in the Government over India not finding a place in the Minerals Security Partnership, an ambitious new US-led partnership to secure supply chains of critical minerals, aimed at reducing dependency on China.

The Union Finance Ministry is learnt to have communicated with the Ministry of External Affairs to explore the possibility of how New Delhi can join the 11-member group, a senior official told The Indian Express.

This assumes significance given that one of the key elements of India’s growth strategy is powered by an ambitious shift in the mobility space through the conversion of a large part of public and private transport to electric vehicles. This, alongside a concerted electronics manufacturing push, underlines the need to secure the supply of critical minerals.

Besides the US, the MSP includes Australia, Canada, Finland, France, Germany, Japan, the Republic of Korea, Sweden, United Kingdom, and the European Commission.

The new grouping, industry insiders say, could focus on the supply chains of minerals such as Cobalt, Nickel, Lithium and also the 17 “rare earth” minerals.

https://indianexpress.com/article/business/11-nation-grouping-concern-delhi-us-led-critical-minerals-alliance-8069212/


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