Home > Practice > Current Affairs > September - 2024 > September 29, 2024
1. Which country has recently formalized its membership in the Minerals Security Finance Network (MSFN), a collaborative effort led by the United States?
India's membership in the MSFN is a strategic move to enhance the stability and security of mineral resources crucial for global economic and technological development. The MSFN is a continuation of the Minerals Security Partnership (MSP), initiated by the US in 2022, which India joined in June 2023. This alliance aims to reduce dependence on countries like China for critical minerals and promote cooperation among member nations to secure supply chains. By joining the MSFN, India strengthens its position in the global energy transition and clean energy initiatives.