The Ministry of Coal and Mines of India has announced that India and Russia have held high-level discussions aimed at strengthening bilateral cooperation in the mining industry. This announcement followed the latest meeting of the joint subgroup under the intergovernmental commission on trade and economic cooperation between the two countries.

The discussions centred on expanding collaboration in critical sectors such as rare earth metals, critical minerals, mining equipment, and aluminium. Both nations are committed to enhancing strategic cooperation in these areas, which are vital for mutual economic growth and industrial innovation.

The Indian Ministry highlighted that the partnership aims to bolster India’s efforts towards self-reliance in mineral extraction, especially for defence and high-tech industries. This move is part of India’s broader strategy to secure its resource base, minimise dependency on imported raw materials, and strengthen its domestic industrial infrastructure.

With its rich reserves of key minerals, Russia has emerged as a significant partner in this venture. The Invest India portal underscores Russia’s strategic role in supplying essential resources. Russian mining giants such as Norilsk Nickel, the world leader in nickel and palladium production; Alrosa, one of the largest diamond mining companies; and Polyus, Russia’s largest gold producer, are already engaging with Indian companies. Notably, Alrosa has established a representative office at the Indian Diamond Exchange in Mumbai, solidifying the potential for deeper ties between the two nations in the mining and metallurgical sectors.

This strengthened partnership comes at a crucial time as India seeks to reduce its dependence on foreign imports and develop a robust domestic supply chain for critical minerals essential to its defence and technology sectors. India and Russia’s longstanding diplomatic ties provide a strong foundation for this cooperation, which is set to benefit both economies by enabling them to share expertise, technology, and resources in the mining industry. Further meetings and agreements are expected in the near future to solidify these collaborative efforts.