The Minerals Security Partnership (MSP) is a global initiative led by the US to secure critical mineral supply chains for clean energy technologies. It aims to diversify sources and promote responsible mining practices.
When did India join the MSP?
India became a member of the MSP in June 2023.
Why did India join the MSP?
India joined the MSP to secure access to critical minerals needed for its clean energy transition and reduce reliance on dominant suppliers like China.
Benefits for India
Access to critical minerals: Joining the MSP gives India access to a wider network for sourcing critical minerals like lithium, cobalt, and nickel, essential for electric vehicles and renewable energy storage.
Collaboration on technology and investment: The MSP fosters collaboration on deep-sea mining technologies and responsible mining practices, potentially attracting investments for exploration and processing within India.
Strengthening partnerships: Membership in the MSP strengthens India's ties with other major economies working towards a clean energy future.
Challenges for India
Meeting environmental standards: The MSP emphasizes responsible mining, and India might need to adapt its deep-sea mining practices to meet stricter environmental regulations.
Competition: Even within the partnership, India faces competition from other member countries for resources and technology.
Geopolitical considerations: Balancing its membership in the MSP with its existing relationships with other countries like Russia, which also has deep-sea mining ambitions.
Future of MSP in India
● India's role in the MSP is likely to grow as it develops its deep-sea mining capabilities and refines its clean energy strategy.
● The MSP could play a role in facilitating joint ventures and technology transfer between India and other member countries.
●The success of the MSP in India will depend on its ability to balance resource security with environmental concerns and promote transparency in its operations.
Additional Points
● India already has some deep-sea exploration licenses in the Indian Ocean and is actively developing deep-sea mining technologies.
●There are ongoing debates about the environmental impact of deep-sea mining, and some environmental groups are calling for a moratorium on the practice.
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