India and US Aim to Revolutionize Critical Mineral Supply Chains

India is emerging as a vital partner in diversifying global critical mineral supply chains. This potential was highlighted during a conference organized by USISPF, discussing ways to enhance clean energy efforts in both nations. The initiative aims to catalyze investments and strengthen bilateral linkages in critical mineral industries.

India's potential to be a key partner in diversifying critical mineral supply chains globally was highlighted by a senior US official at a recent conference.

The roundtable, organized by the US-India Strategic Partnership Forum (USISPF) with Silverado Policy Accelerator and Principal to Principal Strategies (P2P), focused on advancing clean energy agendas for both nations.

The demand for minerals like graphite, manganese, and lithium remains crucial for the electric vehicles (EV) sector, supporting India's net zero vision for 2070. US Assistant Secretary of State for Energy Resources Geoffrey Pyatt emphasized the importance of the US-India energy partnership at the roundtable, called 'Enhancing US-India Critical Minerals Collaboration'.

The event aimed to establish a roadmap for enhancing bilateral collaboration in critical minerals. Although still in its nascent stages, the goal is to encourage investments and strengthen ties in critical mineral supply chains and downstream industries.

Mukesh Aghi, President and CEO of USISPF, noted that the Quad is a significant alliance, with a collective GDP nearing USD 35 trillion. He highlighted that a synergy in critical minerals would bolster India's manufacturing capabilities, especially in smartphones and EVs, amid friend-shoring and re-shoring supply chains.

Verinda Fike, USTDA Regional Director for the Indo-Pacific, reiterated the agency's commitment to partnering across governments and the private sector to enhance critical mineral supply chains. These efforts align with the shared clean energy and digital infrastructure goals of both nations.

The roundtable included a diverse array of stakeholders, such as USISPF members, government officials, think tanks, and international partners interested in the US and India's critical minerals market.

Mahnaz Khan, vice president of Silverado Policy Accelerator, underlined that the roundtable aimed to formulate a data-driven, business-informed policy roadmap that benefits both nations' critical minerals sectors.

Participants acknowledged India's significant mining opportunities but also noted existing challenges in contributing to global resources. Kristi Rogers, managing partner and co-founder of P2P and the Global Supply Chain Task Force, stressed that securing critical mineral supply chains requires unprecedented collaboration.

Through joint efforts, the US and India can drive economic growth by developing processing and refining industries, boosting infrastructure, creating jobs, and enhancing economic security, Rogers said.

(With inputs from agencies.)