India and Australia Enhance Partnership in Critical Minerals and Electric Vehicles
Key Ideas
- India and Australia are exploring deeper collaboration in critical minerals and battery production to enhance their economies.
- Both countries are in negotiations to expand their interim free trade agreement into a comprehensive pact, focusing on mineral processing and vehicle production.
- The Indian government is promoting domestic manufacturing of electric vehicles and boosting charging infrastructure to support the country's green transition.
- Australia, a key producer of critical minerals like lithium and cobalt, aims to facilitate easier access for India to support its green transition through a full free trade agreement.
During a conference on vehicle electrification in New Delhi, Commerce Secretary Sunil Barthwal highlighted the ongoing efforts between India and Australia to strengthen cooperation in critical minerals, mineral processing, and battery production. Both countries are working towards expanding their existing interim free trade agreement into a comprehensive pact, with a focus on integrating their economies in areas such as vehicle production. The Australian High Commissioner to India, Philip Green OAM, emphasized Australia's abundant reserves of critical minerals and its potential to support 'make in India'. Critical minerals like copper, lithium, cobalt, and rare earth elements are crucial for clean energy technologies, and the demand for these minerals is rising with the global energy transition. India is also collaborating with Norway and the European Union in various technology groups to advance battery making, vehicle production, and critical technologies. The Indian government is actively promoting the EV sector, including domestic manufacturing and charging infrastructure, to capitalize on the opportunities arising from the energy transition. Both public and private sectors are encouraged to invest in the evolving value chain in India, including mineral production. The mines ministry is exploring resources both domestically and in the global supply chain to support India's green transition.
Topics
India
Electric Vehicles
Energy Transition
Manufacturing
Investments
Minerals
Bilateral Cooperation
Trade Agreement
Battery Production
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