Modi-Putin talks: India looks to Russia for critical minerals, rare earths

According to fresh market updates, Critical minerals are anticipated to be a key item on the agenda when Prime Minister Narendra Modi meets Russian President Vladimir Putin on Friday, a day before the BRICS summit opens in New Delhi, Indian government officials familiar with the matter stated.

The two sides are likely to discuss ways to deepen cooperation across the mineral value chain, including access to Russian resources, processing and downstream applications, the officials further noted, requesting anonymity.

The discussions come as India seeks to diversify supplies of minerals needed for electric vehicles, renewable energy, electronics, defence equipment and other advanced manufacturing industries.

Mines Secretary Keshav Chandra stated on Wednesday that New Delhi was looking at opportunities across the value chain, from sourcing materials to processing and integration with downstream industries.

For India, Russia additionally offers minerals that are not sufficiently available domestically. “India is examining potential cooperation involving lithium, nickel, molybdenum and caesium,” he stated at the India-Russia Business Dialogue 2026 on Wednesday.

India stays heavily dependent on imports for several critical minerals. NITI Aayog has estimated 100% import dependence for lithium, nickel, cobalt, molybdenum and rare earth elements, underscoring the need to diversify overseas sources and secure long-term supplies. That makes Russia’s resource base strategically relevant for India. Nickel, for instance, is used extensively in stainless steel and nickel-rich batteries for electric vehicles, and Russia has significant nickel resources.

The engagement comes as India seeks to make its critical mineral supply chains more resilient. The Russia-Ukraine war and the resulting sanctions and trade disruptions have highlighted the risks of relying on concentrated global supply chains for strategic minerals and raw materials. Hence, the government approved the National Critical Mineral Mission (NCMM) in January 2025 with an outlay of Rs 16,300 crore to strengthen domestic capabilities across the critical-mineral value chain and reduce supply risks. The seven-year mission, running from FY2024-25 to 2030-31, covers exploration, mining, beneficiation, processing and recovery from end-of-life products.

The government is additionally seeking to backing overseas acquisition of critical-mineral assets while building domestic processing and recycling capabilities. As part of this propel, the Ministry of Mines has entered into bilateral agreements with mineral-rich countries including Australia, Argentina, Zambia, Mozambique, Peru, Zimbabwe, Malawi and Côte d’Ivoire. Besides, India has additionally expanded cooperation with Brazil, Japan and Uzbekistan on critical minerals.

In Argentina, India’s state-owned Khanij Bidesh India Ltd (KABIL) has secured rights to explore and develop five lithium brine blocks in the Catamarca province, and is pursuing critical-mineral assets in Australia.

Domestically, the government is backing critical-mineral processing parks and schemes for recycling battery waste and e-waste, as well as a Rs 7,280-crore programme to build 6,000 tonnes a year of sintered rare-earth permanent magnet manufacturing capacity.

The potential engagement between India and Russia builds on a commitment Modi and Putin made at the 23rd India-Russia Annual Summit in December 2025 to deepen cooperation in critical minerals and rare earths. The joint statement stated the two sides would “deepen cooperation in the exploration, processing and recycling technologies of critical minerals and rare earths.”

The offering additionally fits into India's broader priorities for the BRICS grouping. Under India's 2026 chairship, resilient supply chains have emerged as an important area of cooperation. Leaders including Chinese President Xi Jinping, Russian President Vladimir Putin, Iranian President Masoud Pezeshkian, South African President Cyril Ramaphosa and Indonesian President Prabowo Subianto are set to gather in New Delhi for the September 12-13 BRICS summit. The agenda includes strengthening multilateralism and global governance, expanding trade and investment, and enhancing cooperation on food and energy security, technology and resilient supply chains.