CosmicTaco

India and US Forge Critical Minerals Pact

CosmicTaco · 2024-10-04T08:02:49.502669+05:30

- **India** and the **US** signed an agreement to strengthen supply chains for **lithium, cobalt**, and other critical minerals. - The **MOU** aims to build resilience in the sector, focusing on exploration, extraction, processing, and recycling. - **Goyal** emphasized the need for open supply chains and third-country engagement, including **Africa** and **South America**. - The deal falls short of a full trade agreement, unlike the **US-Japan** deal. - **India** currently imports 100% of its critical minerals, with **China** as a key supplier. Source: [Hindustan Times](https://www.hindustantimes.com/world-news/us-news/india-us-sign-pact-to-cooperate-on-critical-battery-mineral-supply-chains-101727992408485.html), [The Hindu](https://www.thehindu.com/business/Economy/india-us-exploring-combined-engagement-with-third-countries-to-source-minerals-piyush-goyal/article68715389.ece)

India and the US signed an agreement to strengthen supply chains for lithium, cobalt, and other critical minerals.
The MOU aims to build resilience in the sector, focusing on exploration, extraction, processing, and recycling.
Goyal emphasized the need for open supply chains and third-country engagement, including Africa and South America.
The deal falls short of a full trade agreement, unlike the US-Japan deal.
India currently imports 100% of its critical minerals, with China as a key supplier.