26/05/2026, NEW DELHI------ (From Left) Australian Foreign Minister Penny Wong, Indian Minister of External Affairs Subrahmanyam Jaishankar, Japanese Foreign Minister Toshimitsu Motegi, and US Secretary of State Marco Rubio, attend a joint press conference following the Quad Foreign Ministers' Meeting in New Delh, at Hyderabad House, in New Delhi. Sushil Kumar Verma / The Hindu

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Countering China’s tight grip on global supplies of critical minerals, the Quad partners — India, the US, Australia, and Japan — have announced a critical minerals framework to mobilise up to $20 billion for strengthening supply chains. The grouping also slammed Iran over shipping tolls in the Strait of Hormuz and the Red Sea.While refraining from directly naming China, the Quad Foreign Ministers raised serious concerns over “dangerous and coercive actions” in the East China Sea and the South China Sea, as well as the use of economic coercion and non-market policies, including arbitrary export restrictions, price manipulation, and supply disruptions, particularly in critical minerals.“We underscore the importance of diversified and reliable global supply chains and the need to avoid reliance on any one country. To advance our vision, we are pleased to announce the Quad Critical Minerals Framework,” the Quad Foreign Ministers said in a joint statement issued on Tuesday.The meeting was hosted by External Affairs Minister S Jaishankar and attended by Australia’s Foreign Minister Penny Wong, Japan’s Foreign Minister Toshimitsu Motegi, and US Secretary of State Marco Rubio.West Asia ConcernsThe Ministers discussed the situation in West Asia and reaffirmed support for ongoing diplomatic efforts, while expressing hope for lasting peace in the region.Making a case for the safe and uninterrupted flow of global commerce through the Strait of Hormuz and the Red Sea, the statement noted: “..we condemn the attacks on commercial shipping vessels and oppose any future measures that are inconsistent with UNCLOS, including imposition of tolls”.Iran, grappling with steep reconstruction costs for infrastructure damaged during its war with the US and Israel, has officially instituted maritime “service charges” on commercial vessels passing through the strait.Indo-Pacific FocusThe Foreign Ministers also launched the Indo-Pacific Maritime Surveillance Collaboration (IPMSC) to improve information sharing and safeguard industrial supply chains. Additionally, the new Quad Initiative on Indo-Pacific Energy Security will pool member resources for cooperation on energy technology, policy, and emergency response.The Quad will mobilise the $20 billion for critical minerals through public and private sector mechanisms, including export credit agencies, development finance institutions, loans, guarantees, and subsidies. According to the MEA, the funding will target strategic critical mineral projects with a “Quad nexus” — specifically projects located within partner countries or supplying Quad markets — to address supply chain gaps.Published on May 26, 2026