Chinmaya IAS Academy – Current Affairs Chinmaya IAS Academy – Current Affairs
GS 2 – International relation
Announced during the Indian Prime Minister’s visit to Washington, this initiative seeks to strengthen collaboration in critical minerals, pharmaceuticals, advanced materials, and more.
Significance of the TRUST Initiative
- Encourage investments in both public and private sectors to enhance manufacturing capacities and create jobs in both India and the USA.
- Promote exports by reducing barriers to technology transfer, easing export controls, and expanding high-tech commerce.
- Build resilient and trusted supply chains for critical minerals, semiconductors, and Active Pharmaceutical Ingredients, among others.
- Support the recovery and processing of strategic minerals such as lithium and rare earth elements to diversify supply chains and counter China’s dominance.
- Foster innovation through collaboration across governments, academia, and the private sector in critical and emerging technologies like defense, AI, and quantum technology.
- Strengthen India’s National Critical Mineral Mission, encouraging both public and private sectors to acquire critical mineral assets abroad.
About Critical Minerals
- These elements are crucial for modern technologies but are at risk of supply chain disruptions due to limited global production and geopolitical issues.
- Importance:
- Defense: Neodymium and samarium are used in high-performance magnets in missiles, fighter jets, and radars.
- Energy: Lithium and cobalt are used in advanced batteries for energy storage and electric vehicles.
- Medical: Europium and Terbium enhance medical imaging and biotech diagnostics.