September 30, 2024
India and the US are negotiating an agreement to strengthen collaboration on critical mineral supply chains
The discussions will focus on enhancing supply chains for minerals like cobalt, lithium, nickel, and rare earths, which are essential for clean energy technologies
A Memorandum of Understanding (MoU) is being negotiated to leverage both countries' complementary strengths in the mineral sector
Goyal will also meet US Trade Representative Katherine Tai for trade discussions under the Trade Policy Forum further
India and the United States are negotiating a significant pact to enhance collaboration in critical minerals. The matter is set to feature prominently during Commerce and Industry Minister Piyush Goyal’s upcoming visit to Washington. Invited by US Secretary of Commerce Gina Raimondo, Goyal will visit from September 30 to October 3 to discuss a range of key economic issues.
According to a statement from India’s commerce ministry, one of the primary topics on the agenda is the negotiation of a Memorandum of Understanding (MoU) to expand and diversify the supply chains for essential critical minerals between the two nations. This collaboration seeks to leverage India and the US’ complementary strengths to ensure a more resilient supply of minerals such as cobalt, lithium, nickel, copper, and rare earth elements.
These minerals are pivotal for developing clean energy technologies, such as electric car batteries and wind turbines. With the global demand for these materials rising, collaboration is crucial for both nations in achieving their clean energy goals.
During the visit, Goyal will also meet US Trade Representative Ambassador Katherine Tai to discuss ongoing cooperation under the Trade Policy Forum, focusing on expanding bilateral trade. Additionally, the minister will co-chair the India-USA CEO Forum on October 2 and the 6th India-USA Commercial Dialogue on October 3 in Washington. Both events will strengthen commercial ties and foster new business opportunities between the two economies.
Source: Economic Times