Q1. With reference to critical minerals and India's strategic position, consider the following statements: 1. China currently processes about 90 per cent of the world's rare earth elements. 2. Khanij Bidesh India Ltd (KABIL) is a joint venture established to secure mineral assets within India only. Which of the statements given above is/are correct?
Explanation
Only statement 1 is correct. China processes about 90 per cent of global rare earths, which is the central strategic vulnerability the India-US framework seeks to address. Statement 2 is incorrect: KABIL was established specifically to secure mineral assets OVERSEAS (not within India), to acquire strategic mineral assets abroad such as lithium and cobalt for India's domestic supply needs.