India and US Set to Sign Pact on Critical Minerals: Sources

India and the United States are reportedly on the brink of signing a crucial pact regarding the procurement and trade of critical minerals, according to sources familiar with the matter. The agreement, which is expected to be finalized in the coming weeks, could potentially bolster India’s access to essential minerals used in a variety of industries, including electronics, defense, and renewable energy.

The collaboration between the two countries is seen as a strategic move to reduce dependence on China, which currently dominates the global market for critical minerals. By diversifying its sources of these essential resources, India aims to strengthen its supply chain resilience and enhance its national security.

The pact is also expected to pave the way for increased cooperation between India and the US in the field of critical minerals research and development. This could lead to the discovery of new sources of these valuable minerals and the development of more sustainable extraction and processing techniques.

The news of the impending agreement has sparked excitement among industry experts and policymakers, who see it as a significant step towards enhancing India’s self-sufficiency in critical minerals. With demand for these minerals expected to soar in the coming years due to the rapid growth of industries such as electric vehicles and renewable energy, securing a stable supply is crucial for India’s economic growth and technological advancement.

As negotiations between India and the US continue, all eyes are on the potential benefits that this pact could bring to both countries and the global economy as a whole. Stay tuned for further updates on this developing story.