Quad's Critical Minerals Conundrum: Vikram Handa on India's Dependence on China

{ "title": "Quad's Critical Minerals Conundrum: Vikram Handa on India's Dependence on China", "article": "The Quad must work together to develop a domestic critical minerals processing and mining industry to reduce dependence on China, according to Epsilon Advanced Materials Managing Director Vikram Handa. In an exclusive interview, Handa discussed the company's $650-million investment in a US facility, India's need for a trusted partnership with Washington, and the importance of policy clarity to develop a domestic EV battery supply chain. Handa's company, Epsilon Advanced Materials, focuses on the sustainable battery space, converting waste into synthetic graphite used in EV batteries. The company is set to become the first fully permitted synthetic graphite manufacturer in the US, with operations expected to begin by early 2028. The US investment is a strategic move to support Korean and Japanese automotive customers at scale, with Handa citing the country's proximity to a port, strong workforce, and competitive incentives as key factors. However, he noted that the company's manufacturing process is highly automated, reducing the need for specialized skills. India's dependence on China for critical minerals has raised concerns, with Handa advocating for a 'partner and learn' approach. He emphasized the need to be five years ahead of the curve, innovating and investing in new technologies while leveraging established processes. The Quad's efforts to establish critical minerals supply chains have yet to yield results, with Handa highlighting the importance of processing capabilities. He suggested that India needs to develop a clear understanding with the US government, positioning itself as a trusted partner in processing critical minerals. Handa believes that de-risking from China is possible, but requires an agreement between the Quad member countries. He proposed a 20-30% share of critical minerals from India, providing a buffer against potential supply disruptions. To develop its domestic capabilities, India needs access to capital, customers, and technology, with Handa citing the US as a key source for these resources. A clear bilateral understanding with Washington and policy clarity from the Indian government are essential to drive investment and industry growth. "