India and Japan have signed a crucial pact to boost cooperation on critical minerals for clean energy, technology, and economic security. The Memorandum of Cooperation (MoC) was formalized during Prime Minister Narendra Modi’s visit to Tokyo, marking a significant milestone in the strategic partnership between the two nations.
Importance of Critical Minerals
Critical minerals, such as rare earth elements, are essential for various technologies like batteries, semiconductors, solar panels, and defense systems. With increasing global demand for these minerals due to climate goals and technological advancements, countries are focusing on securing resilient supply chains.
Key Features of the India-Japan Mineral Pact
The MoC focuses on strategic objectives to reinforce resource security and promote clean energy development through:
- Joint exploration and mining projects
- Exchange of regulatory and policy information
- Sustainable practices in deep-sea mining
- Stockpiling strategies for mineral supply stability
- Processing and technology transfer collaborations
- Mutually agreed forms of cooperation
This collaboration aims to reduce strategic vulnerabilities and enhance the positions of India and Japan in the global energy and technology value chains.
Investments and Innovation
Prime Minister Modi emphasized that the pact aligns with the economic vision shared with Japan, including a target of 10 trillion yen investment in India over the next decade. The focus will be on fostering innovation and technology-driven growth by connecting MSMEs and startups from both nations.
Pillared Partnership for the Decade Ahead
The India-Japan relationship is moving towards a decadal roadmap structured around eight pillars, including:
- Investment and innovation
- Economic and energy security
- Environmental sustainability
- Technology collaboration
- Healthcare and mobility partnerships
- People-to-people exchanges
- State and prefecture-level cooperation
The mineral cooperation pact aligns with these strategic goals, enhancing bilateral trust and future readiness.
Key Takeaways for Competitive Exams
- India and Japan signed a pact on critical minerals cooperation to enhance clean energy and technology development.
- Critical minerals are essential for various high-tech applications, making secure supply chains crucial.
- The MoC focuses on strategic objectives like joint exploration, sustainable practices, and technology transfer collaborations.
- The pact aims to strengthen resource security and promote innovation and technology-driven growth.
- The India-Japan partnership is structured around eight pillars for future collaboration and mutual growth.
