India, US to discuss pact to boost collaboration in critical minerals

New Delhi: India and the US are negotiating a pact to enhance collaboration in essential critical minerals, and the issue will figure during the visit of Commerce and Industry Minister Piyush Goyal to Washington this week. At the invitation of the US Secretary of Commerce Gina Raimondo, Goyal will undertake a visit from September 30-October 3.

The Commerce Ministry said, in a statement on Sunday, that Goyal and Raimondo will also discuss steps to expand and diversify critical minerals supply chains between India and the US. “The two sides are negotiating a MoU which intends to enhance bilateral collaboration to increase and diversify essential critical mineral supply chains and leverage their complementary strengths,” it said.

Critical minerals, such as cobalt, copper, lithium, nickel and rare earths, play a crucial role in the production of clean energy technologies, from wind turbines to electric cars. They are particularly in demand for the production of batteries for electric cars.

Goyal will also meet the US Trade Representative Ambassador Katherine Tai in Washington DC to discuss the ongoing collaboration under the Trade Policy Forum and ways to further add to bilateral trade between the two countries.

The minister will co-chair with Raimondo the India-USA CEO Forum on October 2 and the 6th India-USA Commercial Dialogue on October 3 to be held in Washington DC.