Commerce and industry minister Piyush Goyal announced India’s proposal for a critical minerals partnership agreement with the US. The initiative aims to support Indian companies, particularly in the electric vehicle sector, in gaining access to the US market.
The proposal seeks to transform an existing memorandum of understanding on critical mineral cooperation into a formal partnership. The strategic endeavour is designed to encourage discussions on free trade, despite ongoing hesitations from the US Congress regarding free trade agreements (FTAs).
As reported by devdiscourse.com, if successful, the partnership could enable Indian firms to take advantage of important mineral-related incentives under the US Inflation Reduction Act. Discussions are expected to cover areas such as technology transfer, pharmaceuticals, and collaboration in clean energy.
