India and Australia will attend a special G7 finance ministers’ meeting on critical minerals, hosted by U.S. Treasury Secretary Scott Bessent in Washington on January 12, 2026. This meeting follows the announcement made on January 9.
About Meeting
The gathering will include G7 countries like the U.S, UK, Japan, France, Germany, Italy, Canada and EU representatives, along with invited nations like Australia and India. They will discuss securing supply chains for minerals, including rare earths and lithium. Bessent called for this session after last summer’s G7 leaders’ summit and a virtual meeting of finance ministers in December. As of January 9, 2026, India has not confirmed its participation.
Strategic importance of News
G7 nations want to reduce their dependence on China, which processes 47-87% of global lithium, cobalt, graphite and rare earths necessary for semiconductors, renewable energy and batteries. Recent Chinese export restrictions on rare earths and magnets to Japan have increased the urgency of these discussions. In June 2025, the G7 agreed on an action plan to improve the resilience of supply chains.
Australia-India Relevance
Australia entered into a U.S. agreement in October 2025, establishing an $8.5 billion project pipeline and proposing a strategic reserve for critical metals. This has attracted interest from Europe, Japan, South Korea and Singapore. India is becoming a key player in processing critical minerals, aligning with efforts to diversify its partnerships…
