BRICS nations used the New Delhi Declaration, adopted on September 12, 2026, to call for critical mineral supply chains that are “reliable, responsible, diversified, resilient, fair, sustainable, and just,” pushing back against the use of mineral exports as a geopolitical lever. The declaration stresses benefit-sharing, value addition and economic diversification for resource-rich member countries while affirming their sovereign rights over mineral resources.
Prime Minister Narendra Modi, hosting the summit, explicitly warned against the “weaponization of technology and critical minerals,” framing supply-chain resilience as central to protecting global development and shared prosperity. External Affairs Minister S. Jaishankar echoed the priority, positioning critical minerals alongside logistics, health and digital agriculture as areas where BRICS members agreed to deepen cooperation.
Why Are Critical Minerals a Trade Flashpoint Right Now?
Critical minerals including lithium, cobalt, rare earth elements and graphite are essential inputs for electric vehicle batteries, semiconductors and renewable energy equipment, and supply is heavily concentrated in a small number of countries, notably China, which has periodically restricted rare earth exports. India, which imports the vast majority of its critical mineral requirements, has been pushing for diversified sourcing and domestic processing capacity to reduce exposure to any single supplier’s export policy.
What Do Industry Bodies Say About the Declaration?
Indian industry groups tracking the electronics and EV supply chain welcomed the declaration’s emphasis on diversification, though they noted it stops short of concrete commitments such as joint stockpiling, shared processing facilities or binding export guarantees among BRICS members. Logistics and mining sector analysts said the declaration signals political intent but that actual supply-chain resilience will depend on follow-through investment in processing and refining capacity, an area where India currently lags well behind China.
Market and Trade Reaction
Shares of Indian companies with critical mineral processing or battery material exposure saw modest gains following the summit, as investors priced in the possibility of future government incentives tied to the declaration’s language. Global critical mineral prices showed little immediate movement, with traders noting that non-binding declarations rarely shift near-term supply and pricing dynamics compared to actual export policy changes.
What Happens Next?
India’s Ministry of Mines is expected to continue expanding its critical mineral mission, including overseas acquisition of mineral assets and incentives for domestic processing, building on the diplomatic cover provided by the BRICS declaration. Trade watchers will look for follow-up meetings among BRICS mines and trade ministers to translate the declaration’s language into concrete cooperation mechanisms, such as joint exploration ventures or preferential trade terms for processed minerals.
Frequently Asked Questions
What did the BRICS declaration say about critical minerals?
It called for critical mineral supply chains to be reliable, diversified, resilient, fair and sustainable, while affirming resource-rich countries’ sovereign rights over their mineral resources.
Why is India concerned about critical mineral supply chains?
India imports most of its critical minerals for electronics, EV batteries and renewable energy equipment, leaving it exposed to export restrictions from concentrated suppliers like China.
Does the declaration include binding commitments on minerals?
No. The declaration sets out shared principles and priorities but does not include binding commitments such as joint stockpiling or guaranteed export volumes among BRICS members.
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