India could play a crucial role in reducing the world’s dependence on China for minerals, which currently amasses 72% of the global supply. India is abundant in 49 critical and non-fuel minerals that have the potential to drive the global semiconductor industry, as outlined in a report by the Council on Energy, Environment and Water (CEEW) and the Ministry of Science & Technology. No wonder why the US-India initiative specifically highlighted fields of advanced materials and rare earth processing technology as areas for future cooperation.
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