India, US to Negotiate Pact to Expand and Diversify Critical Minerals Supply Chains
India’s Minister of Commerce and Industry Piyush Goyal will negotiate a MoU with his US counterpart United States Secretary of Commerce, Gina Raimondo to enhance bilateral collaboration to increase and diversify essential critical mineral supply chains.
September 30, 2024. By Mrinmoy Dey
This will be a key issue to be discussed during the US visit of India’s Minister of Commerce and Industry Piyush Goyal, at the invitation of the United States Secretary of Commerce, Gina Raimondo, said a statement issued by the commerce ministry.
Goyal will undertake the visit to the United States of America from September 30 - October 3, 2024. During this visit, Goyal and Raimondo will discuss steps to expand and diversify critical minerals supply chains between India and the US.
For the uninitiated, critical minerals like cobalt, copper, lithium, nickel, and rare earths are essential for producing clean energy technologies, including wind turbines and electric vehicles, with high demand, especially for electric car batteries.
According to the statement, the minister's visit will add further impetus to the strong and growing trade and investment ties between India and the US.
“It will encourage business-to-business engagement, and promote strategic partnerships across sectors of priority to both sides, including critical minerals, building supply chain resilience, facilitating climate and clean technology cooperation, inclusive digital growth, standards and conformance cooperation etc.,” it said.
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