Strengthening critical mineral supply chains vital for India: Vaishnaw

India highlighted its firm commitment to strengthening and securing critical mineral supply chains as it participated in a key ministerial meeting hosted by US Treasury Secretary Scott Bessent.

Minister for Railways, Information & Broadcasting, Electronics & Information Technology Ashwini Vaishnaw participated in the Finance Ministerial on Securing Critical Minerals Supply Chains convened by Bessent on Monday.

The ministerial at the United States Treasury was to discuss solutions to secure and diversify supply chains for critical minerals, especially rare earth elements.

Participated in the Critical Minerals Ministerial Meeting hosted by Treasury Secretary @SecScottBessent. Strengthening critical mineral supply chains is vital to enhancing the resilience of India's manufacturing capabilities and rapidly growing electronics sector, Vaishnaw said in a post on X.

 

Vaishnaw arrived in Washington DC on Sunday to participate in the meeting, saying that secure critical mineral supply chains are vital" for India's goal of Viksit Bharat.

The Indian Embassy in Washington DC said Vaishnaw highlighted India's firm commitment to strengthening and securing critical mineral supply chains essential for economic prosperity, resilient manufacturing, and realizing Viksit Bharat.

Bessent said that at the meeting, he was pleased to hear a strong, shared desire to quickly address key vulnerabilities in critical minerals supply chains. I am optimistic that nations will pursue prudent derisking over decoupling and understand well the need for decisive action to remedy current deficiencies in critical minerals supply chains.

The US Department of Treasury said in a statement that the United States highlighted actions and investments it has already undertaken, as well as planned steps to create resilient, secure, and diversified critical minerals supply chains.

Noting that these supply chains have also become highly concentrated and vulnerable to disruption and manipulation, the Secretary urged attendees to increase their supply chain resiliency, and thanked attendees for their willingness to both learn from and work quickly with each other towards decisive action and lasting solutions.

Participants at the meeting of Finance Ministers included Vaishnaw, Treasurer of Australia Jim Chalmers, Minister of Finance of Canada Franois-Philippe Champagne, European Commissioner for Economy and Productivity, Implementation and Simplification Valdis Dombrovskis, Minister of the Economy, Finance, and Energy of France Roland Lescure, Vice Chancellor and Federal Minister of Finance of Germany Lars Klingbeil.

Minister of Economy and Finance of Italy Giancarlo Giorgetti, Minister of Finance of Japan Satsuki Katayama, Secretary of Finance and Public Credit of Mexico Edgar Amador Zamora, Deputy Prime Minister and Minister of Economy and Finance of South Korea Yun-Cheol Koo and Chancellor of the Exchequer of the United Kingdom Rachel Reeves.

US Trade Representative Jamieson Greer, President and Chairman of the Export-Import Bank of the United States John Jovanovic and JP Morgan Managing Director Jay Horine also presented on key areas of focus, the Department said.

Assistant to President Trump and 13th Director of the White House Office of Science and Technology Policy Michael Kratsios met Vaishnaw along with Indian Ambassador to the US Vinay Kwatra at the White House to discuss the upcoming AI Impact Summit in India. See you next month in Delhi!  New Delhi will host the India-AI Impact Summit 2026 on February 19-20, focussing on the principles of People, Planet, and Progress'.

The Summit, announced by Prime Minister Narendra Modi at the France AI Action Summit, will be the first-ever global AI summit hosted in the Global South.

The Indian Embassy in Washington DC said it was honoured to welcome Vaishnaw and hear his thoughts and perspectives on India's priorities in tech and manufacturing sectors.