Q1. Consider the following statements regarding the India-United States Strategic Critical Minerals Cooperation Framework signed in New Delhi on 26 May 2026: 1. The framework covers cooperation in mining, processing, recycling and investments in rare earth elements to build resilient supply chains and reduce dependence on China, which currently processes about ninety per cent of global rare earths. 2. The framework was signed between Indian Commerce Minister Piyush Goyal and United States Trade Representative, focusing exclusively on trade tariff reductions for critical mineral imports. Which of the statements given above is/are correct?
Explanation
Statement 1 is correct: The India-US Strategic Critical Minerals Cooperation Framework covers cooperation in mining, processing, recycling and investments in rare earth elements to build resilient supply chains and reduce dependence on China, which processes approximately ninety per cent of global rare earths. The framework also seeks to protect sensitive supply chains from coercive market practices. Statement 2 is incorrect: The framework was signed between External Affairs Minister Subrahmanyam Jaishankar and US Secretary of State Marco Rubio, not by the Commerce Minister or USTR. Furthermore, it is a comprehensive strategic cooperation framework covering mining, processing, recycling and investments, not exclusively focused on tariff reductions.