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India to host Mongolian President in October to step up presence in China's periphery
India will host Mongolian President Ukhnaagiin Khürelsükh in October to enhance strategic and economic engagement. A primary objective is for India to source critical minerals from Mongolia, which seeks to diversify its export markets beyond China. This visit commemorates 70 years of diplomatic ties, building on their established "Strategic Partnership" and growing cooperation.
Eyeing to step up strategic and economic engagement on the periphery of China, India will host Mongolian president Ukhnaagiin Khürelsükh in October.
The visit will seek to further economic partnership with India seeking to source critical mineral reserves from the landlocked country that can be transported through Vladivostok-Chennai maritime corridor, hinted persons familiar with the issue. Mongolia, historically, has shared strong ties with Russia.
Mongolia is rich in critical minerals essential for the global energy transition, including molybdenum, manganese, nickel, copper, fluorspar, graphite, rare earth elements (REEs), cobalt, lithium, platinum group metals, and tungsten.
But the country's mineral sector faces challenges including export dependence on China and therefore eyeing the Indian market to diversify export destinations. For New Delhi Mongolia can emerge as a key source for critical minerals to power its green energy ambitions.
Khürelsükh's visit will mark 70 years of the creation of diplomatic ties between India and Mongolia. The visit by PM Narendra Modi to Mongolia in May 2015 marked the 60thanniversary of establishment of diplomatic relations between India and Mongolia brought in a paradigm shift in bilateral relationship, which was elevated to the level of “Strategic Partnership” with Mongolia. It may be recalled that India is supporting to create Mongolia's first oil refinery in Dornogovi (a capacity of 1.5 Million Metric Tonnes Per Annum with a $1 billion soft loan.
Defence ties in the form of joint exercises have increased over years and the partnershipreceived a massive boost during the visit of Defence Minister of India, Rajnath Singh to Mongolia in 2022. At the military level, joint India-Mongolia exercise ‘Nomadic Elephant' is held annually. The Border Security Force and the Mongolian General Authority for Border Protection have been closely cooperating on border patrolling and related subjects for over eight years.
Mongolia, landlocked between Russia and China, views India as its 3rd neighbour. India and Mongolia are Strategic Partners, Spiritual Brothers and Third Neighbours with centuries old deep civilizational linkages through Buddhism. Of late, 4 Ds Dharma, Democracy, Development Partnership & Digital Development Cooperation, have become pillars of India Mongolia relationship. Historically, India and Mongolia have interacted since antiquity through the shared heritage of Buddhism. As for Buddhism, it appears to have traversed to Mongolian steppes through Tibet and Himalayan region.
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Source: EconomicTimes
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