India, Indonesia Partner on Critical Minerals & Rare Earths

New Delhi, Jul 7 (PTI) Prime Minister Narendra Modi and Indonesian President Prabowo Subianto on Tuesday called for deeper cooperation on critical minerals and rare earths and stressed the need for diversified and resilient supply chains to support manufacturing and economic security.

Both leaders held bilateral talks at Istana Merdeka, Jakarta. The talks covered the full spectrum of bilateral relations, which included critical minerals.

The two sides inked nearly a dozen agreements to significantly shore up two-way cooperation in a range of areas including critical minerals, technology, food security, medicines and maritime security, an official statement said.

The two leaders underscored the importance of further strengthening collaboration in critical minerals and rare earths with a focus on building diversified and resilient supply chains essential for the growth of domestic manufacturing industries towards reducing vulnerabilities and strengthening economic security, according to an India-Indonesia joint statement.


The leaders commended the growing collaboration between the two countries on rare earths, and in this regard welcomed the signing of the MoU between Non-Ferrous Materials Technology Development Centre (NFTDC), Midwest Ltd, and PT Perusahaan Mineral Nasional (PERMINAS), it said.

Prime Minister Narendra Modi is on an official visit to Indonesia from 6-8 July.

Modi landed in Jakarta on Monday to a red-carpet welcome in the first leg of his three-nation tour -- which will also cover Australia and New Zealand -- to shore up trade and security cooperation under the framework of the India-Indonesia Comprehensive Strategic Partnership of 2018.

The government had earlier approved a Rs 16,300-crore National Critical Mineral Mission, envisaging a total outlay of Rs 34,300 crore spread over seven years, with an aim to achieve self-reliance and accelerate India's journey towards green energy transition.

The National Critical Mineral Mission aims to encourage Indian public sector enterprises and private sector companies to acquire critical mineral assets abroad and enhance trade with resource-rich countries. It also proposes the development of a stockpile of critical minerals within the country.