India-Japan pact on mineral resources to diversify critical mineral supply chains: Govt

New Delhi, Aug 29 (PTI) India's agreement with Japan in the field of mineral resources is part of government's efforts to establish and diversify critical minerals supply chains, Union Minister of Coal and Mines G Kishan Reddy said on Friday.

Prime Minister Narendra Modi is currently in Japan to attend the 15th India-Japan Annual Summit along with the Prime Minister of Japan, Shigeru Ishiba.

Both the prime ministers have committed to cooperate in multiple areas such as the economy, health, mobility partnership, AI, science and technology and critical minerals and rare earth elements, Reddy said on Memorandum of Cooperation on Mineral Resources between India and Japan.

The Ministry of Mines, Government of India's Memorandum of Cooperation (MoC) with the Ministry of Economy, Trade and Industry (METI), Japan in the Field of Mineral Resources is a part of the ongoing efforts of the Government of India to establish and diversify the critical minerals supply chains which is essential to not only achieve our energy security, national security and food security objectives but also achieve the net zero emission goals, he said.

The collaboration has been made for exchange of information on mineral resources, including policies and regulations.

It also aims to promote joint investments in exploration, mining and processing for critical minerals in India and resource-rich countries. PTI ABI HVA