Key facts
- India and the US launched the Quad Critical Minerals Initiative Framework on May 26.
- The pact aims to curb global reliance on China for rare earth elements.
- The initiative involves pooling up to $20 billion from member states.
- US Secretary of State Marco Rubio was present for the signing.
India and the United States, alongside Japan and Australia, launched the Quad Critical Minerals Initiative Framework on May 26. This strategic push aims to reduce global reliance on China for rare earth elements and critical minerals. The agreement, signed during a visit by US Secretary of State Marco Rubio, involves member states pooling up to $20 billion for the initiative. Despite the significant resources available in India, analysts express skepticism about the country's ability to quickly challenge China's entrenched dominance in the mining and processing of these vital materials.