India Joins US-led Mineral Security Network

Key Points

• 1India has joined the Minerals Security Finance Network (MSFN), a US-led initiative to secure critical mineral supply chains.
• 2The MSFN is an offshoot of the Minerals Security Partnership (MSP), established in 2022, which India joined in June 2023.
• 3The partnership recognizes the need for public and private sector collaboration to meet the increasing global demand for critical minerals.
• 4The initiative brings together DFIs and ECAs from participating nations to create synergies.
• 5India's inclusion is significant given its ambitious shift to electric vehicles and semiconductor manufacturing.
• 6China dominates critical mineral production, including rare earth elements, posing challenges for supply chain security.