New Delhi: Prime Minister Narendra Modi and China’s Premier Li Qiang attend the opening meeting of the BRICS Summit. Taking to the stage at the BRICS Summit, Prime Minister Narendra Modi emphasised the need for member nations to collaborate to secure supply chains for critical minerals and make sure no country uses these resources as a weapon against others.
The PM’s remarks were made in response to escalating concerns over China’s restrictions on the export of rare earth materials since April 2025, a form of retaliation against US tariffs. However, China’s dominance and control over these critical materials have disrupted global supplies, and Modi’s veiled dig brings to the fore the mounting supply shortage for rare earth minerals.
We need to work together to ensure that critical mineral and technology supply chains are secure and reliable. It’s essential to ensure that no country exploits these resources for its selfish gain or as a means of aggression against others. Modi stated.
China controls over 90% of global processing capacity for the rare earth magnets, which are crucial not only for automobiles but also for clean energy and home appliances. Moreover, China’s restrictions have also compelled India to intensify its domestic exploration and production of critical materials to meet its demands. Industry sources said that several auto makers are likely to face production disruptions from August if the rare earth magnet shortage issue is not addressed.
The top leaders of BRICS from around the world flocked to the seaside Brazilian city and discussed a host of issues, ranging from environmental concerns and the impact of climate change to concerns regarding Artificial Intelligence. Chinese President Xi Jinping and his Russian counterpart, Vladimir Putin, skipped the summit. Iranian President Masoud Pezeshkian and Egypt’s Abdel-Fattah el-Sissi also didn’t attend the gathering.
