New Delhi, Jan 13 (NationPress) India’s Union Minister for Railways, Information & Broadcasting, and Electronics & Information Technology, Ashwini Vaishnaw, was present at a pivotal Finance Ministerial meeting convened by US Treasury Secretary Scott Bessent in Washington, where discussions revolved around securing and diversifying global critical minerals supply chains, with a particular focus on rare-earth elements that are crucial for advanced manufacturing and electronics.

In a post shared on X after the event, Vaishnaw emphasized India’s priorities, stating, “I participated in the Critical Minerals Ministerial Meeting hosted by Treasury Secretary @SecScottBessent. Strengthening critical mineral supply chains is vital to enhancing the resilience of India’s manufacturing capabilities and rapidly growing electronics sector.”

This ministerial, held at the United States Treasury, 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 the European Union.

During the discussions, key presentations were made by US Trade Representative Jamieson Greer, President and Chairman of the Export-Import Bank of the United States, John Jovanovic, and JP Morgan Managing Director Jay Horine on relevant focus areas.

The US Treasury reported that attendees conveyed a strong collective desire to promptly address critical vulnerabilities in mineral supply chains, which have become increasingly concentrated and prone to disruption and manipulation. The United States highlighted both actions already taken and planned initiatives aimed at establishing resilient, secure, and diversified supply chains.

Secretary Bessent stressed the importance of coordinated international efforts, encouraging countries to bolster supply chain resilience while avoiding fragmentation. He reiterated this message in a subsequent post on X, stating, “At today’s Finance Ministerial hosted by the @USTreasury, I 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.”

In the official statement, the Treasury noted, “Secretary Bessent expressed his optimism that nations will pursue prudent derisking over decoupling and that they recognize the need to address current deficiencies in critical minerals supply chains. He pointed out that these supply chains have become highly concentrated and vulnerable to disruption, urging participants to enhance their supply chain resiliency and expressing gratitude for their willingness to collaborate swiftly towards effective solutions.”

This ministerial underlines the increasing global efforts to diminish reliance on limited sources of critical minerals and to boost economic security in the face of evolving geopolitical and technological challenges.