India Pushes Critical Minerals Security to Power Manufacturing Growth

India has reiterated the importance of building strong and secure critical mineral supply chains to support its fast-growing manufacturing and electronics sectors. Union Minister for Railways, Information & Broadcasting, and Electronics & Information Technology, Ashwini Vaishnaw, represented India at a high-level Finance Ministerial meeting on securing critical mineral supply chains, hosted by US Treasury Secretary Scott Bessent in Washington DC. The meeting focused on finding practical solutions to diversify and safeguard the global supply of critical minerals, including rare earth elements that are essential for modern technologies.

During the discussions, Vaishnaw highlighted that reliable access to critical minerals is key to strengthening India’s manufacturing base and achieving the national vision of Viksit Bharat. He said resilient supply chains are especially important for sectors such as electronics, clean energy, and advanced technologies, which are seeing rapid growth in India. The Indian Embassy in Washington DC also underlined India’s strong commitment to securing these supply chains to ensure long-term economic growth and industrial resilience.

US Treasury Secretary Scott Bessent noted that participating countries shared a clear urgency to address weaknesses in existing critical mineral supply chains. He stressed the need for “derisking” rather than decoupling, and called for quick and coordinated action to reduce over-dependence on concentrated sources. The US Department of the Treasury said the United States outlined steps already taken, along with future investments, to build more secure, diversified, and transparent supply chains for critical minerals.

The meeting brought together finance ministers and senior leaders from major economies, including Australia, Canada, France, Germany, Italy, Japan, South Korea, Mexico, the United Kingdom, and the European Union. Representatives from the US Trade Office, the Export-Import Bank of the United States, and leading global financial institutions also shared insights on key focus areas and financing options.

While in Washington, Vaishnaw also met Michael Kratsios, Assistant to US President Donald Trump and Director of the White House Office of Science and Technology Policy, along with India’s Ambassador to the US, Vinay Kwatra. The discussions included preparations for the upcoming India-AI Impact Summit 2026, which will be hosted in New Delhi on February 19–20. The summit will focus on the principles of People, Planet, and Progress and will be the first global AI summit hosted in the Global South, reinforcing India’s growing leadership in technology and manufacturing.

Source: Business Standard