Union Minister Ashwini Vaishnaw on Monday participated in a high-level US-led ministerial meeting in Washington focused on strengthening and diversifying global critical minerals supply chains, reflecting India’s growing role in shaping resilient economic and technological ecosystems amid rising geopolitical and industrial challenges.

The Finance Ministerial Meeting on Critical Minerals was hosted by US Treasury Secretary Scott Bessent and brought together senior economic leaders from major global economies to discuss vulnerabilities in the supply of critical minerals, particularly rare-earth elements that are essential for advanced manufacturing, electronics, clean energy technologies, and strategic industries.

Following the meeting, Vaishnaw underlined India’s priorities, stating in a post that strengthening critical mineral supply chains is central to enhancing the resilience of India’s manufacturing base and supporting the country’s rapidly expanding electronics and technology sectors. He emphasised that access to secure and diversified mineral supplies is increasingly vital for sustaining industrial growth and technological innovation.

The meeting was convened at the United States Treasury and included finance ministers and senior officials from Australia, Canada, France, Germany, Italy, Japan, Mexico, South Korea, the United Kingdom, and the European Union. Senior representatives from key US institutions also participated, including US Trade Representative Jamieson Greer, Export-Import Bank President John Jovanovic, and JP Morgan Managing Director Jay Horine, who made presentations on financial, trade, and investment dimensions of supply chain security.

According to the US Treasury, participants shared a strong consensus on the urgent need to address structural weaknesses in critical minerals supply chains, which have become highly concentrated and vulnerable to disruption, geopolitical leverage, and market manipulation. The discussions focused on identifying collaborative pathways to enhance resilience, promote diversification, and encourage responsible investment across mining, processing, and downstream manufacturing.

Secretary Bessent highlighted actions already taken by the United States to strengthen supply chains, along with planned investments aimed at reducing strategic dependencies. He stressed the importance of coordinated international action, cautioning against fragmentation while urging countries to work collectively to mitigate risks.

In his remarks, Bessent advocated a strategy of “prudent derisking” rather than outright decoupling, arguing that diversification and resilience should be pursued without undermining global economic integration. He later reiterated this approach publicly, expressing optimism that participating nations recognise the urgency of decisive action and long-term cooperation to remedy existing supply chain deficiencies.

The Treasury noted that Bessent encouraged attendees to increase supply chain resiliency and thanked them for their willingness to share best practices and collaborate on durable solutions. The statement underscored that addressing critical mineral vulnerabilities is not only an economic imperative but also a matter of national and collective security.

For India, participation in the ministerial aligns with its broader push to expand domestic manufacturing, build robust electronics and semiconductor ecosystems, and reduce exposure to external shocks. Critical minerals are central to India’s ambitions in areas such as renewable energy, electric mobility, defence manufacturing, and digital infrastructure.

The ministerial reflects a growing global recognition that securing access to critical minerals has become a strategic priority amid intensifying competition, rapid technological change, and shifting geopolitical alignments. As countries seek to future-proof their economies, forums such as this ministerial are emerging as key platforms for coordination, policy alignment, and investment mobilisation.