India and UK Launch Critical Minerals Global Supply Chain Observatory in New Delhi
In a major strategic partnership, India and the United Kingdom have jointly launched the Critical Minerals Global Supply Chain Observatory (GSCO) in New Delhi to secure essential mineral resources.
Securing the Future of Energy and Tech
To mitigate the geopolitical risks associated with the concentration of critical minerals in a few countries, India and the UK have inaugurated the Critical Minerals Global Supply Chain Observatory (GSCO). Housed in New Delhi, the GSCO will act as a centralized intelligence and strategic planning hub. It aims to monitor supply bottlenecks, price volatilities, and promote the ethical extraction of minerals essential for electric vehicles (EVs), renewable energy infrastructure, and defense electronics.
Strategic Implications
This observatory marks a shift towards 'friend-shoring' and reducing dependency on non-allied nations for rare earth elements, lithium, cobalt, and nickel. The GSCO will facilitate joint R&D in mineral processing technologies, deep-sea mining, and recycling protocols, ensuring long-term resource security for both nations under the India-UK Roadmap 2030.
Static GK Fact Check
- Critical Minerals in India: In 2023, the Ministry of Mines released India's first-ever list identifying 30 critical minerals essential for economic development and national security.
- Khanij Bidesh India Ltd. (KABIL): A joint venture created by the Indian government to ensure a consistent supply of critical and strategic minerals to the domestic market.
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