The Indian Ocean Region (IOR) is one of the most strategically important maritime regions in the world. Encompassing critical sea lanes through which over 80 percent of the world's energy supplies transit, it is simultaneously a zone of immense economic opportunity and increasing security threats such as piracy, human trafficking, illicit arms transfer and unreported and unregulated (IUU) fishing (Indian Navy, 2015).
Naval power has been a major determinant of power since ancient times. In the contemporary era of geopolitics, control over certain sea lanes of communication (SLOC), important maritime ports and important straits like the Strait of Hormuz and the Bab al-Mandab Strait has become a domain of power struggle. At the same time, the Indo-Pacific region is slowly becoming the epicentre of the world with almost 60% of the Global GDP and 65% of the population concentrated in this region
The Strait of Malacca, through which over 80,000 vessels transit annually, constitutes one of the world’s most strategically consequential maritime chokepoints. Stretching for approximately 900 kilometres between the Malay Peninsula and the Indonesian island of Sumatra, this narrow sea lane connects the Indian Ocean to the South China Sea and serves as the primary artery for maritime and naval commerce between East Asia, South Asia, the Middle East, and Europe.
Over the past two decades, India and the European Union (EU) have developed a strong strategic partnership especially in the sphere of technology. Both partners view technological collaboration as crucial for economic growth, sustainable development and global governance of emerging technologies. Both India and the European Union are technological giants in their own capacity. India is home to some of the best minds in the IT sector and Europe has the most established industries in the technological sector.
The 21st century is fast paced yet aims at being sustainable. This rare balance is achieved by using a set of minerals that are present in very few geographical pockets of the Earth- critical minerals, which can be dubbed as the new oil of the 21st century. The global energy transition, the focus on sustainable and green transportation and rapid technological development and advancements have resulted in an increased demand for certain minerals classified as critical due to their economic importance, geographical concentration in few locations that results in fragmentation of the global supply chains.
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