The United States announced a major global push to reshape the critical minerals and rare earths market, unveiling a series of agreements, financing commitments and new institutional frameworks aimed at building secure, diversified and resilient supply chains, as global demand rises with
India's inclusion is expected to boost domestic semiconductor manufacturing and position the country as an alternative production hub. Experts note that India could join Pax Silica at a later stage, similar to its participation in the Minerals Security Partnership (MSP).
Ranjit Rath, Chairman and Managing Director of Oil India Limited (OIL) and the current Hydrocarbon Chair of CII, has emphasised the strategic importance of overseas asset acquisition in the critical minerals space, underlining its role in India's energy security and green transition goals.
The US State Department on Saturday said that the US ties with India have been elevated in terms of Minerals Security Partnership (MSP) to combat climate change effectively, according to a US State Department official press release.