Describing the agreement as evidence of the strengthening partnership between Washington and New Delhi, Jaishankar said that while there are some challenges in implementing the agreement, there are many opportunities.
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India and the United States on Tuesday signed a bilateral agreement to secure the supply, mining and processing of critical minerals and rare earth elements.
Indian External Affairs Minister S Jaishankar announced the historic agreement after bilateral talks and a meeting of Quad foreign ministers, highlighting its strategic importance in the global scenario.
Stressing that the issue was also discussed in the Quad meeting, he said it was important to secure these resources.
The agreement is said to be aimed at facilitating the supply of critical minerals and rare earth elements. According to him, the agreement will cover mining, processing, promotion and related investments. He said it will strengthen the supply chain by simplifying and diversifying it and providing financing to the countries concerned.
Describing the agreement as evidence of the strengthening partnership between Washington and New Delhi, Jaishankar said that while there are some challenges in implementing the agreement, there are many opportunities.
US Secretary of State Marco Rubio has highlighted the importance of India to the United States, saying the deal is a concrete example. In recent days, he has repeatedly highlighted the strategic alliance between the United States and India and the importance of the deal in the national interest.
He said the agreement was made with strategic interest in ensuring reliable long-term access to minerals and supply chains critical to the innovation economy between India and the United States.
The deal comes amid global efforts to diversify its supply chains, as critical minerals and rare earth elements are critical components for high-end electronics, energy technology, defense systems, and electric vehicles.
