Union Minister for Railways, Information and Broadcasting, and Electronics and Information Technology Ashwini Vaishnaw participated in a high-level finance ministerial meeting in Washington focused on strengthening and diversifying global critical minerals supply chains, particularly rare-earth elements essential for advanced manufacturing and electronics.
The meeting was hosted by US Treasury Secretary Scott Bessent and brought together finance ministers and senior economic leaders from major global economies, including Australia, Canada, France, Germany, Italy, Japan, Mexico, South Korea, the United Kingdom and representatives of the European Union. The discussions reflected growing international concern over the concentration and vulnerability of critical mineral supply chains.
Following the meeting, Vaishnaw emphasised India’s priorities, highlighting the importance of resilient supply chains for the country’s rapidly expanding manufacturing base and electronics sector. He noted that securing access to critical minerals is vital for enhancing India’s industrial resilience and supporting its ambitions in high-technology manufacturing.
The United States Treasury stated that participants shared a strong and common resolve to address key vulnerabilities in critical minerals supply chains, which have become increasingly susceptible to disruption and manipulation. The US outlined actions and investments already undertaken, along with planned measures aimed at building secure, diversified and resilient supply networks.
US Trade Representative Jamieson Greer, Export-Import Bank of the United States President John Jovanovic, and JP Morgan Managing Director Jay Horine also made presentations on priority areas, including financing mechanisms and international cooperation frameworks.
Secretary Bessent underscored the need for coordinated global action, urging countries to strengthen supply chain resilience while avoiding excessive fragmentation. He stressed that prudent risk mitigation, rather than economic decoupling, is essential to ensure long-term stability and security in critical mineral supplies.
The ministerial reflects intensifying global efforts to reduce reliance on limited sources of critical minerals amid evolving geopolitical dynamics and rapid technological advancement. For India, participation in such initiatives aligns with its broader strategy to secure key inputs, support electronics manufacturing growth and enhance economic security in an increasingly competitive global environment.
