India and Japan will work more closely on critical minerals to boost “resilience” in their supply chains, Indian Prime Minister Narendra Modi said yesterday, as the two huge Asian economies look to cut dependence on top exporter China.
India and Japan depend on imports for many such minerals, used in everything from electric vehicles, solar panels and smartphones to jet engines and guided missiles.
They have been seeking new suppliers, including the US and other countries, as China’s dominance might leave them vulnerable to changes in their ties with Beijing.
Photo: Reuters
“We have agreed to strengthen supply chain resilience in strategic sectors such as semiconductors, quantum technologies and critical minerals,” Modi said after talks with Japanese Prime Minister Sanae Takaichi in New Delhi.
Japan and India are members of the Quad security alliance along with the US and Australia, a group seen as a counterweight to China’s expanding presence in the Indian Ocean and wider Asia-Pacific region.
Japan and India were facing challenges such as “weaponization of the economy and non-market policies and practices,” Takaichi said.
“We need to urgently build resilience in our critical minerals supply chains,” she added.
In a sign of camaraderie between the two leaders, Modi referred to Takaichi as his “little sister” and the Japanese prime minister responded by calling him “elder brother.”
Japanese and Indian businesses concluded investment deals worth US$12.3 billion, the two sides said.
They form part of a Japanese pledge to pour US$68 billion into India over 10 years.
Modi said the countries had also agreed to codevelop a naval radio antenna project aimed at boosting maritime surveillance.
Earlier, Takaichi received a red-carpet welcome at the presidential palace in Delhi, where troops marched past in an honor guard parade.
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