Sitharaman, Bessent meet; vow to deepen India-US ties on minerals

Finance Minister Nirmala Sitharaman and US Treasury Secretary Scott Bessent met at the G20, committing to deepen India-US ties. They focused on collaboration in critical minerals to secure supply chains and shared research technology.

Finance Minister Nirmala Sitharaman with US Treasury Secretary Scott Bessent. (Photo: X/@FinMinIndia)

India, US Vow to Deepen Ties in Critical Minerals

Union Finance Minister Nirmala Sitharaman met US Treasury Secretary Scott Bessent on the sidelines of the G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting on Monday. The two leaders referred to the long-standing relationship between India and US and committed to deepening ties in various areas including critical minerals.

Sitharaman invited Bessent for the Economic & Financial Partnership to New Delhi later this year. Bessent lauded India's role in G7 plus, and appreciated India's participation in the G7-led critical mineral dialogues to secure supply chains.

"Union Minister for Finance & Corporate Affairs Smt. @nsitharaman met Mr. @SecScottBessent, Secretary of the Treasury, United States of America, on the sidelines of the G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting, in Asheville, yesterday. The Union Finance Minister invited Mr. @SecScottBessent for the Economic & Financial Partnership to New Delhi later this year," Finance Ministry said in a post on X.

Mr. @SecScottBessent appreciated India's role in G7 plus, and appreciated India's participation in the G7-led critical mineral dialogues to secure supply chains, share research technology. FM Smt. @nsitharaman and Mr. @SecScottBessent acknowledged the long-standing relationship between India and US and committed to deepening this relationship in various areas including critical minerals," it added.

Significance of Strategic Partnership

India's participation in critical mineral dialogues provides an opportunity to work with major economies on supply-chain security, research and technology. For the US, India's involvement brings a major economy and significant emerging market into initiatives concerning strategically important resources.

Critical minerals are essential for several sectors such as clean energy, electronics, telecommunications, defence and advanced technologies. Governments are increasingly seeking to diversify supply sources to minimise the risk of disruptions linked to dependence on concentrated supply chains.

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