India invited to G7 finance ministers’ meet on critical minerals, says US Treasury Secretary
The United States is hosting the G7 finance ministers’ meeting in Washington on January 12, with discussions set to focus on securing supplies of critical minerals. The issue has gained urgency as Western economies seek to reduce their reliance on China-dominated supply chains.
- Jan 10, 2026,
- Updated Jan 10, 2026 3:27 PM IST
India is among a group of countries invited by the United States to participate in a meeting of finance ministers from the Group of Seven (G7) advanced economies, US Treasury Secretary Scott Bessent said on Friday.
Speaking to Reuters, Bessent said he was unsure whether India had accepted the invitation. He made the remarks after touring an engineering laboratory of Winnebago Industries, an RV and boat manufacturer, in the Minneapolis area. It was not immediately clear which other countries had also been invited to the meeting.
The United States is hosting the G7 finance ministers’ meeting in Washington on January 12, with discussions set to focus on securing supplies of critical minerals. The issue has gained urgency as Western economies seek to reduce their reliance on China-dominated supply chains.
Bessent said he had been pushing for a dedicated meeting on critical minerals since the G7 leaders’ summit last summer. Finance ministers had already held a virtual discussion on the subject in December, he added.
The G7 comprises the United States, Britain, Japan, France, Germany, Italy and Canada, along with the European Union. Most of these economies remain heavily dependent on China for rare earths and other critical minerals essential to modern industries.
At a meeting last June, G7 leaders agreed on an action plan aimed at strengthening supply chain security and boosting economic resilience.
China currently dominates the global critical minerals supply chain, refining between 47% and 87% of key materials such as copper, lithium, cobalt, graphite and rare earths, according to data from the International Energy Agency.
These minerals are vital for a wide range of applications, including defence technologies, semiconductors, renewable energy systems, batteries and industrial refining processes.
In recent years, Western nations have sought to diversify supply sources amid growing concerns over strategic vulnerabilities. These efforts have intensified as China introduced stricter export controls on rare earths and related products.
According to Reuters, the timing of Monday’s meeting is notable, coming just days after reports that China began restricting exports of rare earths and high-powered magnets to Japanese companies, while also banning shipments of certain dual-use items to Japan’s military.
Despite these developments, Bessent said China was continuing to honour its commitments to purchase US soybeans and supply critical minerals to American firms.
India is among a group of countries invited by the United States to participate in a meeting of finance ministers from the Group of Seven (G7) advanced economies, US Treasury Secretary Scott Bessent said on Friday.
Speaking to Reuters, Bessent said he was unsure whether India had accepted the invitation. He made the remarks after touring an engineering laboratory of Winnebago Industries, an RV and boat manufacturer, in the Minneapolis area. It was not immediately clear which other countries had also been invited to the meeting.
The United States is hosting the G7 finance ministers’ meeting in Washington on January 12, with discussions set to focus on securing supplies of critical minerals. The issue has gained urgency as Western economies seek to reduce their reliance on China-dominated supply chains.
Bessent said he had been pushing for a dedicated meeting on critical minerals since the G7 leaders’ summit last summer. Finance ministers had already held a virtual discussion on the subject in December, he added.
The G7 comprises the United States, Britain, Japan, France, Germany, Italy and Canada, along with the European Union. Most of these economies remain heavily dependent on China for rare earths and other critical minerals essential to modern industries.
At a meeting last June, G7 leaders agreed on an action plan aimed at strengthening supply chain security and boosting economic resilience.
China currently dominates the global critical minerals supply chain, refining between 47% and 87% of key materials such as copper, lithium, cobalt, graphite and rare earths, according to data from the International Energy Agency.
These minerals are vital for a wide range of applications, including defence technologies, semiconductors, renewable energy systems, batteries and industrial refining processes.
In recent years, Western nations have sought to diversify supply sources amid growing concerns over strategic vulnerabilities. These efforts have intensified as China introduced stricter export controls on rare earths and related products.
According to Reuters, the timing of Monday’s meeting is notable, coming just days after reports that China began restricting exports of rare earths and high-powered magnets to Japanese companies, while also banning shipments of certain dual-use items to Japan’s military.
Despite these developments, Bessent said China was continuing to honour its commitments to purchase US soybeans and supply critical minerals to American firms.