India, US seal critical minerals deal: India and the United States today signed a bilateral framework covering the supply, mining, and processing of critical minerals and rare earth elements.

The pact has been sealed at a time when there is a growing concern around the world over dependence on China-dominated supplies.

The pact was signed during the Quad Foreign Ministers' meet, in the presence of External Affairs Minister S Jaishankar and US Secretary of State Marco Rubio.

For the unversed, critical minerals and rare earth elements are crucial components for high-tech electronics, clean energy technologies, defence systems and electric vehicles.

The move to diversify these supply chains comes amid global efforts to reduce reliance on single-source suppliers, particularly China, which currently dominates the global processing market.

What Jaishankar said on the critical minerals deal?

Jaishankar announced the landmark agreement, highlighting its strategic importance in a highly contested global landscape following bilateral discussions and the Quad Foreign Ministers' meeting.

"We are today signing a bilateral India-US framework on securing supplies of mining and processing of critical minerals and rare earths," Jaishankar said.

Emphasising that the issue was also a key point of discussion during the Quad meeting, the minister noted that securing these resources is "very timely and critical," regardless of whether it is pursued bilaterally, through the Quad format, or within a larger gathering of like-minded nations.

The framework is designed to deepen comprehensive cooperation across the entire critical minerals and rare earth supply chain. According to Jaishankar, the scope of the partnership will encompass mining, processing, recycling, and related investments.

"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," the External Affairs Minister added.

Rare earth framework to boost US-India ties

Terming the agreement a testament to the strengthening Washington-New Delhi partnership, Jaishankar concluded, "It is one more sign of how close our cooperation is in a world where there are so many challenges but also so many opportunities."

US Secretary of State Marco Rubio highlighted the importance of India for the United States and said that the signing of the agreement is a tangible example of it.

"I have spoken often during my time here over the last few days about the strategic alliance between the United States and India and how important that is for our national interest in the United States. And today is a tangible example of it."

He underlined how India and the United States are two countries that have strategic interests in ensuring reliable long-term access to critical minerals and supply chains that are important for their innovation economy.

(With ANI inputs)