India-US TRUST Initiative Boosts Critical Mineral Mission

The India-US TRUST initiative supports the National Critical Mineral Mission, encouraging cross-border acquisition of essential minerals. A joint statement following a Trump-Modi meeting highlights plans to develop strategic mineral supply chains. Partnerships under IMEC and I2U2 frameworks aim to enhance connectivity and foster innovation in critical technologies.

The India-US TRUST initiative stands to significantly bolster the Indian government's National Critical Mineral Mission (NCMM), encouraging both public and private sector participation. The mission, approved for seven years with a budget of Rs 34,300 crore, aims to create stockpiles of critical minerals within India.

Following a meeting in Washington, Prime Minister Narendra Modi and former US President Donald Trump agreed on the TRUST initiative. This program aims to establish strong supply chains for critical minerals, advanced materials, and pharmaceuticals. In a joint statement, the two nations committed to launching a strategic mineral recovery and processing initiative, focusing on materials like lithium and rare earth.

R K Sharma, a special advisor at FIMI, emphasized the role of NCMM in building a resilient value chain in exploration, mining, and processing. Industry leaders, such as Hemant Jain, highlight the potential of TRUST to foster collaboration across multiple sectors, including technology and energy. Meanwhile, international frameworks like IMEC and I2U2 are expected to enhance innovation, secure supply chains, and create new opportunities in infrastructure and trade.

(With inputs from agencies.)