Overview
- The bilateral framework was signed on Tuesday, May 26, 2026, by External Affairs Minister S. Jaishankar and U.S. Secretary of State Marco Rubio during the Quad foreign ministers meeting in New Delhi.
- The pact commits India and the U.S. to cooperate across the full mineral value chain, including mining, processing, recycling and related investment to build more resilient and diversified supply chains.
- Washington said it is mobilising more than $30 billion in investments, loans and other support for related projects, while the Quad announced a complementary initiative to marshal up to $20 billion of public and private backing.
- Officials said initial priorities are identifying specific projects, aligning permitting and regulatory processes, coordinating finance through export credit and development banks, and protecting sensitive supply chains from coercive market practices.
- The move builds on earlier U.S. initiatives such as Pax Silica and FORGE and signals a wider shift toward trusted supply networks for technologies like EV batteries, semiconductors and defence systems that have been concentrated in a few suppliers.