Syllabus: GS2/International Relation
Context
- India and Russia have reaffirmed their strategic partnership with a renewed focus on industrial cooperation, particularly in the extraction of rare earth minerals and critical resources, amid US’s escalated pressure on India’s oil trade with Russia.
| US’s Tariff & Trade – The European Union (EU) imported $39.1 billion worth of Russian goods in 2024, including $25.2 billion in oil, while the US itself purchased $3.3 billion in strategic materials from Russia. – India imported Russian oil — $52.7 billion in 2024 — second only to China’s $62.6 billion, despite pressure from the US. – The USA has avoided targeting China because of its leverage over critical materials such as gallium, germanium, rare earths, and graphite, which are vital for defence and technology. Implications of US Tariffs on India – Exports to the U.S. could drop by 40–50%, especially in non-exempt categories. – Competitors like Vietnam and Bangladesh face lower tariffs, putting Indian goods at a disadvantage. |
Indo-Russian Cooperation in Rare Earth Minerals
- Need: Rare Earth Elements (REEs) are essential for modern technologies — electric vehicles, wind turbines, semiconductors, and defence systems.
- Recent export restrictions by China, which controls 85–95% of global supply, have disrupted India’s automobile production and exposed vulnerabilities in its supply chain.
- To counter this, India and Russia are:
- Exploring joint ventures in rare earth and critical mineral extraction.
- Focusing on underground coal gasification and modern industrial infrastructure.
- Advancing technology transfer and capacity building in mining equipment and exploration.
Expanding Industrial Cooperation
- The 11th Session of the India-Russia Working Group on Modernisation and Industrial Cooperation, held in New Delhi, covered a wide range of sectors:
- Aerospace Science & Technology: Plans for a modern wind tunnel, small aircraft piston engines, and joint R&D in carbon fibre, additive manufacturing, and 3D printing.
- Aluminium, Fertilizers, & Railway Transport: Enhanced engagement and technology sharing.
- Waste Management: Industrial and domestic waste solutions were also discussed.
- The meeting concluded with the signing of a protocol reaffirming the strategic partnership and shared commitment to deepen economic ties.
Scientific Collaboration
- India’s CSIR-IMMT signed Joint Declarations of Intent with Russia’s Giredmet and Rosatom to:
- Advance critical mineral processing technologies.
- Promote sustainable resource development.
- Support India’s goals under Atmanirbhar Bharat and Viksit Bharat initiatives.
| For More Details On Indo-Russian Cooperation, Refer to: https://www.nextias.com/ca/current-affairs/15-04-2025/india-russia-relations-78-years-diplomatic-ties |
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