Why in the News?
India has joined the Pax Silica group during the AI Impact Summit, partnering with the United States and other countries to build resilient supply chains for electronics and critical minerals.
What is Pax Silica?
- A multilateral initiative aimed at:
- Securing electronics supply chains
- Reducing over dependence on a single country
- Strengthening access to refined rare earth elements
- Inaugural summit held in Washington DC.
Member Countries
- United States, Canada, Japan, South Korea, European Union, and India
Strategic Context
- China dominates refining of rare earth elements.
- Concerns over:
- Export restrictions
- Economic coercion
- Weaponisation of supply chains
- Initiative promotes supply chain sovereignty and diversification.
Key Concepts for Prelims
- Rare Earth Elements: 17 metallic elements essential for electronics, EVs, defence systems.
- Critical Minerals: Minerals essential for economic and national security.
- Supply Chain Resilience: Diversification to reduce vulnerability to disruptions.
- Economic Coercion: Use of trade or economic tools for strategic pressure.
| [2025] Consider the following statements:
I. India has joined the Minerals Security Partnership as a member. II. India is a resource-rich country in all the 30 critical minerals that it has identified. III. The Parliament in 2023 has amended the Mines and Minerals (Development and Regulation) Act, 1957 empowering the Central Government to exclusively auction mining lease and composite license for certain critical minerals. Which of the statements given above are correct? (a) I and II only (b) II and III only (c) I and III only (d) I, II and III |
Get an IAS/IPS ranker as your 1: 1 personal mentor for UPSC 2024
