India’s Union Minister for Railways, Information, Broadcasting, and Electronics & Information Technology, Ashwini Vaishnaw, attended a high-level Finance Ministerial hosted by US Treasury Secretary Scott Bessent to discuss measures for securing and diversifying global critical mineral supply chains. The discussions placed particular emphasis on rare-earth elements, which are essential for advanced manufacturing, electronics, and emerging technologies.
The ministerial convened finance ministers and senior economic officials from leading global economies, including Australia, Canada, France, Germany, Italy, Japan, Mexico, South Korea, the United Kingdom, and the European Union. Senior US officials, including Trade Representative Jamieson Greer, Export-Import Bank President John Jovanovic, and JP Morgan Managing Director Jay Horine, also addressed participants, highlighting key priorities and challenges in the sector.
According to the US Treasury, attendees expressed a shared commitment to addressing vulnerabilities in critical mineral supply chains, which have grown increasingly concentrated and prone to disruption or manipulation. Secretary Bessent stressed the need for coordinated international action, urging countries to enhance supply chain resilience while avoiding fragmentation of global trade systems. He highlighted existing US investments and planned initiatives aimed at creating secure, diversified, and robust supply networks.
The Treasury’s statement noted that Secretary Bessent encouraged nations to pursue prudent derisking strategies rather than complete decoupling. He emphasized the importance of addressing deficiencies in current supply chains and praised participants for their readiness to collaborate, learn from each other, and implement decisive measures to ensure long-term solutions.
The ministerial reflects a growing global effort to reduce reliance on limited mineral sources and strengthen economic and technological security amid evolving geopolitical dynamics. India’s participation positions the country as an active contributor to these initiatives, supporting its strategic interests in rare-earth production and advanced manufacturing while fostering international partnerships. The meeting underscores the critical role that collaboration and policy coordination play in safeguarding global supply chains essential to modern industry, clean energy technologies, and economic stability.
