Robust critical mineral supply chains vital to boost India`s manufacturing goals: Ashwini Vaishnaw
Union Minister for Railways and Electronics and IT, Ashwini Vaishnaw, on Tuesday said that strengthening critical mineral supply chains is vital to enhancing the resilience of India’s manufacturing capabilities, as he participated in the ‘Critical Minerals Ministerial Meeting’ in the United States.
Vaishnaw on Sunday arrived in the US to participate in the key meeting hosted by Treasury Secretary Scott Bessent.
“Participated in the Critical Minerals Ministerial Meeting hosted by Treasury Secretary. Strengthening critical mineral supply chains is vital to enhancing the resilience of India’s manufacturing capabilities and rapidly growing electronics sector,” the minister posted on X social media platform.
Bessent said that 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,” said the US Treasury Secretary.
Vaishnaw’s US visit comes at a time when the government has recently announced a scheme to promote the manufacturing of sintered Rare Earth Permanent Magnets (REPM), which aims to enhance India’s participation in global advanced-materials value chains while reducing import dependence.
The scheme with a financial outlay of Rs 7,280 crore also aims to enable long-term industrial growth by establishing 6,000 metric tonnes per annum of integrated REPM manufacturing capacity covering the full chain from rare?earth oxides to finished magnets, according to an official statement issued recently.
The scheme is designed to enhance competitiveness, attract technology?driven investment and support long?term scalability while contributing to energy?transition goals and India’s Net Zero 2070 vision, it added. By establishing domestic capability and strengthening downstream linkages, this government’s initiative will help generate employment, deepen industrial capacity and support the vision of Aatmanirbhar Bharat.
India also participates in multilateral platforms such as the Minerals Security Partnership (MSP) and the Indo-Pacific Economic Framework (IPEF) to build resilient critical minerals supply chains.
