India accelerates the search for alternative sources of rare earths and relies on Russia to reduce its dependence on China. The state-owned company IREL is in negotiations with Rosneft to obtain samples from the Siberian Tomtor deposit in Yakutia, considered one of the largest untapped deposits in the world. The goal is to verify the possibility of building a supply chain capable of supporting the future production of permanent magnets, essential components for electric vehicles, military systems, wind turbines, and advanced technologies.
For New Delhi, the issue goes beyond the supply of raw materials. The Indian government aims to strengthen its strategic autonomy in a sector dominated by Beijing, which controls most of the refining of rare earths and global magnet production. India's strategy aims to diversify suppliers and partners, looking not only to Russia but also to Australia, Argentina, Myanmar, Japan, and South Korea.
For Moscow, Indian interest represents an important opportunity. Western sanctions have pushed the Kremlin to strengthen economic ties with major Asian powers, and India offers a market of enormous value. The consolidated energy cooperation, based on Russian oil supplies, could be joined by cooperation on critical minerals, creating an even broader partnership.
On the military front, relations between India and Russia remain solid. The recent agreement for the supply of Shtil-1 naval missiles destined for Indian Navy frigates confirms a decades-long cooperation. However, New Delhi continues to pursue a policy of diversification, combining Russian systems with collaborations with the United States, France, Israel, and a growing development of the national defense industry.
The relationship with Washington also reflects this balancing line. The United States sees India as a key partner to contain Chinese influence in the Indo-Pacific, but New Delhi continues to defend its strategic autonomy. While strengthening technological and military cooperation with the Americans, Narendra Modi's government does not intend to give up Russian oil purchases nor subordinate its foreign policy to Washington's interests.
The rare earth game is set to become central to the Indian economy in the next decade. The country aims to start commercial production of magnets between 2029 and 2030, a step considered essential to support the automotive industry, electronics, defense, and renewable energy. Access to resources like those at Tomtor could offer New Delhi greater security in supply chains and a stronger negotiating position vis-à-vis both China and the West.
The initiative confirms India's strategy of active non-alignment. Rather than choosing a bloc, New Delhi seeks to expand its room for maneuver, building multiple relationships and reducing strategic dependencies. In this context, the Tomtor deposit takes on a value that goes beyond mining: it represents one of the nodes of the new global geoeconomic competition, in which control of critical resources is destined to increasingly influence international power balances.
