Can't allow weaponisation of critical minerals: PM Modi at Brics

NEW DELHI: Brics countries should work to make supply chains for critical minerals and technology secure and reliable, so that no country can use these resources for its own "selfish gain or as a weapon" against others, said PM Narendra Modi at the Rio summit. The remarks are significant as they come at a time the global community is grappling with China's dominance of critical minerals. Quad recently announced a critical minerals initiative to secure and diversify supply chains to prevent any economic coercion or price manipulation.

Modi was speaking in the presence of Premier Li Qiang who represented China at the summit in the absence of President Xi Jinping . In April this year, amid a raging trade war with the US, China suspended export of some rare earth minerals sparking global concerns about its impact on advanced technology and security industries.

The call for ensuring secure and reliable supply chains was one of the suggestions the PM made at the Brics session on strengthening multilateralism, economic issues and AI to turn the grouping into a guide for the multipolar world in the future. He said Brics' diversity and multipolarity is its greatest strength.

Strengthening internal systems like the Brics New Development Bank (NDB) that would lend more credibility to the call for reformed multilateralism, collaboration in agricultural research for the benefit of Global South, creation of a Brics Science and Research Repository, and ensuring responsible AI were some of the other suggestions made by Modi in his address. The PM underlined that the NDB must follow demand "driven principle and long-term sustainability" for granting projects.

"Global standards must be created that can verify the authenticity of digital content, so that we can identify the source of the content and maintain transparency and prevent misuse," said Modi, adding that India will organise an AI Impact Summit next year for improved cooperation between all countries.

Modi said at a time when the global community faced uncertainty and challenges, the relevance of Brics was evident. "Global South has many hopes from us. To fulfil them, we must follow the principle of 'Lead by Example'. India is fully committed to working shoulder-to-shoulder with all our partners to achieve our common goals," Modi said.

Addressing another session on climate, Modi said that under India's Brics presidency next year, the Indian govt will work to define Brics in a new form. "Brics will mean - Building Resilience and Innovation for Cooperation and Sustainability," he said, adding that for India, climate justice is no alternative but a moral duty. He underscored India's position that without tech transfer and affordable financing for countries in need, climate action will remain confined merely to climate talks.