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Straits Times
2 days ago
- Business
- Straits Times
India, central Asian countries express interest in joint rare earths exploration
NEW DELHI – India and five central Asian countries have expressed interest in jointly exploring for rare earths and critical minerals, they said in a joint statement on June 6 after the fourth meeting of the India-Central Asia Dialogue. The announcement comes amid global alarm over China's decision to curb exports of rare earth alloys, mixtures and magnets, spooking industries ranging from automobiles and clean energy to defence. India and the central Asian countries – Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan – also called upon 'relevant authorities' for an early meeting of the India-Central Asia Rare Earth Forum, which last met in September. 'The ministers also encouraged exchange of delegations to explore new areas of cooperation in critical minerals,' the statement said, adding the sides agreed to hold their next meeting in 2026. Rare earths are a group of 17 elements used in the creation of magnets that power motion for cars, cellphones, missiles and other electronics. China mines about 60 per cent of the world's rare earths and makes 90 per cent of rare earth magnets. Beijing, however, has announced export restrictions on these in April as part of its sweeping response to US President Donald Trump's tariffs. India is holding talks with companies to establish long-term stockpiles of rare earth magnets by offering fiscal incentives for domestic production, as it looks to reduce dependence on shipments from China. It also plans to launch incentives for recycling 24 critical minerals – a plan that is in the final stages of approval – as it looks to secure the minerals needed for green energy transition. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Economic Times
2 days ago
- Politics
- Economic Times
India-Central Asian Foreign Ministers speak in one voice against cross-border terror & terror proxies
Productive discussions on connectivity, security, terrorism: Jaishankar at India-Central Asia Dialogue Synopsis At the fourth India-Central Asia dialogue, ministers condemned the Pahalgham terrorist attack and pledged to combat terrorism, emphasizing accountability for perpetrators and the need for UN cooperation. They expressed interest in joint rare earth exploration, supported India's UN Security Council membership, and advocated for a stable, terror-free Afghanistan. The Indian and the Central Asian Foreign Ministers on Friday unequivocally condemned the terrorist attack in Pahalgham and reaffirmed their firm commitment to fight against terrorism in all its forms and manifestations. ADVERTISEMENT At the fourth India-Central Asia dialogue the Ministers also reiterated that providing safe haven, using terrorist proxies for cross-border terrorism, terror financing, arms and drugs trafficking, dissemination of a radical ideology and abuse of cyber space to spread disinformation and incite violence, goes against the basic principles of humanity and international relations. The Ministers without naming Pakistan and other terror infrastructure stressed that perpetrators, organizers, financiers and sponsors of terrorist acts must be held accountable and brought to justice. In this context, they called for early adoption of the UN Comprehensive Convention on International Terrorism. They stressed the need to strengthen UN-led global counter-terrorism cooperation and fully implement the relevant UNSC resolutions, Global Counter-Terrorism Strategy and FATF Ministers expressed interest in joint exploration of rare earth and critical minerals. Appreciating the outcomes of the first India-Central Asia Rare Earth Forum held in September 2024 in New Delhi, they called upon the relevant authorities to hold the second India-Central Asia Rare Earth Forum meeting at the earliest convenience. The Ministers also encouraged exchange of delegations to explore new areas of cooperation in critical minerals. ADVERTISEMENT It may be pointed out that China is making big inroads into Central Asia's rare earth sector. The Ministers noted the importance of holding regular consultations among the National Security Councils of India and the Central Asian countries to strengthen efforts to counter terrorism and other emerging challenges in the region. They looked forward to the third edition of the Consultations to be held in the Kyrgyz Republic. ADVERTISEMENT The Ministers of Foreign Affairs of Central Asian countries reiterated support of their countries for permanent membership of India in an expanded and reformed UN Security Ministers reiterated their strong support for a peaceful and stable Afghanistan which is free from terrorism, war and drugs. They stressed the need to stand by the people of Afghanistan. The Ministers agreed to continue close coordination and consultations on matters related to Afghanistan, according to the joint statement. ADVERTISEMENT The Ministers emphasized optimum usage of the International North-South Transport Corridor (INSTC) to enhance connectivity between India and the Central Asian countries. They stressed that connectivity initiatives should be based on the principles of transparency, broad participation, local priorities, financial sustainability, respect for sovereignty and territorial integrity of all countries in an indirect reference to BRI that passes through PoK. India reiterated its support for the membership of Turkmenistan and Uzbekistan in INSTC. In this context, Ministers appreciated the initiative taken by Kazakhstan to develop the eastern branch of INSTC. (You can now subscribe to our Economic Times WhatsApp channel) (Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online. NEXT STORY
Time of India
2 days ago
- Politics
- Time of India
India-Central Asian Foreign Ministers speak in one voice against cross-border terror & terror proxies
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The Indian and the Central Asian Foreign Ministers on Friday unequivocally condemned the terrorist attack in Pahalgham and reaffirmed their firm commitment to fight against terrorism in all its forms and the fourth India-Central Asia dialogue the Ministers also reiterated that providing safe haven, using terrorist proxies for cross-border terrorism, terror financing , arms and drugs trafficking, dissemination of a radical ideology and abuse of cyber space to spread disinformation and incite violence, goes against the basic principles of humanity and international Ministers without naming Pakistan and other terror infrastructure stressed that perpetrators, organizers, financiers and sponsors of terrorist acts must be held accountable and brought to justice. In this context, they called for early adoption of the UN Comprehensive Convention on International stressed the need to strengthen UN-led global counter-terrorism cooperation and fully implement the relevant UNSC resolutions, Global Counter-Terrorism Strategy and FATF Ministers expressed interest in joint exploration of rare earth and critical the outcomes of the first India-Central Asia Rare Earth Forum held in September 2024 in New Delhi, they called upon the relevant authorities to hold the second India-Central Asia Rare Earth Forum meeting at the earliest convenience. The Ministers also encouraged exchange of delegations to explore new areas of cooperation in critical may be pointed out that China is making big inroads into Central Asia's rare earth Ministers noted the importance of holding regular consultations among the National Security Councils of India and the Central Asian countries to strengthen efforts to counter terrorism and other emerging challenges in the region. They looked forward to the third edition of the Consultations to be held in the Kyrgyz Ministers of Foreign Affairs of Central Asian countries reiterated support of their countries for permanent membership of India in an expanded and reformed UN Security Ministers reiterated their strong support for a peaceful and stable Afghanistan which is free from terrorism, war and drugs. They stressed the need to stand by the people of Afghanistan. The Ministers agreed to continue close coordination and consultations on matters related to Afghanistan, according to the joint Ministers emphasized optimum usage of the International North-South Transport Corridor (INSTC) to enhance connectivity between India and the Central Asian countries. They stressed that connectivity initiatives should be based on the principles of transparency, broad participation, local priorities, financial sustainability, respect for sovereignty and territorial integrity of all countries in an indirect reference to BRI that passes through reiterated its support for the membership of Turkmenistan and Uzbekistan in INSTC. In this context, Ministers appreciated the initiative taken by Kazakhstan to develop the eastern branch of INSTC.
The Hindu
3 days ago
- Business
- The Hindu
Sponsors and perpetrators of terror must be brought to justice, say Central Asian countries
The Foreign Ministers of Central Asian countries on Friday (June 6, 2025) 'unequivocally condemned' the terrorist attack in Pahalgam and conveyed their 'firm commitment' to fight terrorism. The common position against terrorism was arrived at during the India-Central Asia Dialogue that was chaired by External Affairs Minister S. Jaishankar. He acknowledged the solidarity that the Central Asian countries had extended to India after the terror attack in Pahalgam on April 22. He also called upon the region to work for 'greater financial connectivity' with India. 'They reaffirmed their firm commitment to fight against terrorism in all its forms and manifestations, and reiterated that providing safe haven, using terrorist proxies for cross-border terrorism, terror financing, arms and drugs trafficking, dissemination of a radical ideology and abuse of cyber space to spread disinformation and incite violence goes against the basic principles of humanity and international relations,' the participating Foreign Ministers said in a joint statement that was issued at the end of the meeting. The participating countries also stressed that 'perpetrators, organisers,financiers and sponsors of terrorist acts must be held accountable and brought to justice'. Push for connectivity The Foreign Ministers of India, Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan and Turkmenistan emphasised 'optimum usage of the International North-South Transport Corridor (INSTC)' to enhance connectivity between India and the Central Asian countries. The participants at the dialogue said connectivity projects should be 'based on principles of transparency, broad participation, local priorities, financial sustainability, respect for sovereignty and territorial integrity of all countries'. At the meeting, India supported the membership of Turkmenistan and Uzbekistan in the INSTC. 'The Ministers underlined the importance of greater financial connectivity between India and Central Asian countries, including through digital payment systems, enhanced inter-bank relations, and trade in national currencies to encourage greater trade, investment, tourism and people-to-people exchanges,' the joint declaration stated. It also expressed interest in joint exploration of rare earth and critical minerals, and called on the participating countries to organise the second India-Central Asia Rare Earth Forum meeting 'at the earliest convenience'. Trusted partner Earlier, inaugurating the dialogue, Mr. Jaishankar described India as 'a trusted development partner' of Central Asia. Mr. Jaishankar highlighted trade and investment, defence, agro-processing, textiles, pharmaceuticals, regional connectivity, security, education, culture, people-to-people exchanges as areas where bilateral cooperation will increase in the coming period. 'India remains a trusted development partner for all of you. Together with ITEC (Indian Technical and Economic Cooperation) training slots and ICCR scholarships, which are the most well-known forms of our development partnerships, we also have started providing high-impact community development projects as Indian grants for socio-economic development,' said Mr. Jaishankar.
Time of India
3 days ago
- Business
- Time of India
Batteries, EVs under threat? India fires on all cylinders for rare earths amid China's tightening grip
As China tightens its stranglehold on the global supply of rare earth elements , India is shifting gears — fast. From forging new partnerships in Central Asia to finalising an ambitious incentive scheme for mineral recycling , India is pushing ahead to secure its place in the global race for critical minerals . At the recently held India-Central Asia Dialogue in New Delhi, India and five Central Asian nations expressed mutual interest in jointly exploring rare earths and other critical minerals. In a joint statement, they called for an early meeting of the India-Central Asia Rare Earth Forum, signalling growing geopolitical urgency to diversify away from China's near-monopoly. China's chokehold spurs urgency The backdrop to these moves is no coincidence. Over the past year, China has weaponised its control over rare earths, placing several critical minerals and magnets under strict export licence regimes. These are the very components vital for electric vehicles , wind turbines, semiconductors, and even military-grade systems. Beijing's message is clear: if the West can play export control hardball, China has its own scalpel and it's now using it with surgical precision. While the US, Europe, and Japan scramble to find alternative supply lines, India sees an opening — and it's moving to capitalise. From mission to momentum Under the Rs 34,300 crore National Critical Mineral Mission (NCMM), India aims to become self-reliant in sourcing and processing critical minerals like lithium, cobalt, nickel, and rare earth elements. Joint Secretary in the Mines Ministry, Dinesh Mahur, announced that an incentive scheme for recycling these minerals is in its final stages. The Union Budget has already earmarked Rs 1,500 crore specifically for this effort. Public Sector Enterprises are expected to contribute Rs 18,000 crore to the mission. With a sharp focus on domestic exploration, overseas block acquisition, and technological R&D, the NCMM is India's boldest bet yet to insulate its industries from global supply shocks. Auto industry feels the heat The urgency is not just strategic — it's also economic. Rare earth shortages are already casting a shadow over India's auto sector, especially electric vehicles (EVs), which depend on permanent magnets for motors. Bajaj Auto has warned that its e-scooter production could be impacted from July if Chinese export delays continue. TVS Motor has echoed similar concerns. According to the Federation of Automobile Dealers Associations (FADA), only a third of its members expect sales growth in June. The rare earth crunch, combined with high inventories and tight financing, has pushed automakers to brace for a cautious month — especially as the EV rollout faces headwinds. China's long game, India's fast track What China is doing today has been decades in the making. The world first saw signs of Beijing's ambitions in 2010 when it temporarily banned rare earth exports to Japan over a territorial spat. By 2020, China had passed its own Export Control Law, giving it sweeping powers to curb exports of materials deemed vital to national security. The law was broad enough to include critical minerals, tech, and even data. Now, with the US-China trade war escalating, rare earths have become Beijing's leverage. Export licenses have slowed, production lines in Europe have paused, and Washington is on edge. China's near-monopoly on processing and refining rare earths — not just mining them — means that even if other countries dig up the ores, they'll still need China to process them. Which is why India's current push isn't just policy — it's necessity. The Road Ahead While China refines 90% of the world's rare earths, India is still building capacity. But the groundwork is being laid — with diplomatic ties, budgetary commitments, and strategic focus. The success of the NCMM could determine whether India emerges as a resilient alternative or remains vulnerable to future supply shocks. With global demand for EVs, semiconductors, and green energy tech rising, the stakes couldn't be higher. In this global battle for minerals that power the future, India is no longer on the sidelines. It's suiting up — and firing on all cylinders.
