India and Australia look at increasing cooperation in critical minerals, processing

India and Australia are enhancing cooperation in critical minerals, processing, and battery production, according to Commerce Secretary Mr. Sunil Barthwal. Both nations have signed an interim free trade agreement and are negotiating a comprehensive pact. He highlighted efforts to integrate their economies in battery production, mineral processing, and vehicle manufacturing at a conference on vehicle electrification. The Indian government promotes domestic electric vehicle (EV) manufacturing and infrastructure. At the same time, Australian High Commissioner Philip Green emphasized Australia's substantial mineral resources supporting the 'Make in India' initiative. Australia, a leading producer of lithium and cobalt, aims to facilitate India's access to critical minerals through a full free trade agreement.

Critical minerals like copper, lithium, nickel, cobalt, and rare earth elements are essential for clean energy technologies. Demand for these minerals is increasing with the global energy transition. He mentioned that India has signed a trade pact with the European Free Trade Association (EFTA) and is collaborating with Norway and the EU on renewable energy and critical technologies. He emphasized the importance of global cooperation for energy transition and carbon emission reduction. With EV sales rising in India, Barthwal noted the need for a comprehensive ecosystem, including manufacturing, battery production, and charging infrastructure. The government addresses the entire value chain, provides incentives, and collaborates with states to promote ease of doing business and land availability for manufacturing.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.