India and UAE Sign MoU to Secure Critical Mineral Supply Chain

India and the UAE have signed a Memorandum of Understanding (MoU) to strengthen their critical mineral supply chains. The agreement was signed between the UAE's International Resources Holding and an Indian consortium comprising Oil India (OIL), Khanij Bidesh India, and Oil and Natural Gas Corporation (ONGC) during the visit of Abu Dhabi Crown Prince Sheikh Khalid bin Mohamed bin Zayed Al Nahyan to India.

The MoU focuses on critical mineral exploration in third countries and aims to enhance the resilience of supply chains for these essential resources, which are vital for the 21st-century digital economy. Both nations will collaborate on project identification, joint due diligence, risk management strategies, and long-term offtake strategies to secure a stable supply of critical energy minerals.

An OIL statement announcing the agreement said all parties will work together in a cooperative and coordinated manner, and will focus on project identification, conducting joint due diligence, collaborating on risk management strategies and devising a long-term offtake strategy. It also spelled out a goal to secure a stable supply of critical energy minerals.

In addition, work has begun on the India-UAE virtual trade corridor and the Master Application for International Trade and Regulatory Interface (MAITRI), key initiatives under the India-Middle East-Europe Economic Corridor (IMEEC) framework. This partnership highlights a strategic move toward enhancing supply chain security and economic cooperation in critical sectors.