CosmicTaco

India Pushes for Critical Minerals Trade Deal with US

CosmicTaco · 2025-03-24T11:18:18.823898+05:30

- New Delhi and Washington signed an MoU on critical minerals in October last year to boost supply-chain resilience. - Indian officials are pushing to upgrade this MoU into a full-fledged trade agreement to unlock US tax benefits for EVs and batteries. - India ranks third globally for rare earth reserves, while the US holds the seventh position. - India unveiled a 34,300 crore critical minerals mission in January to achieve self-reliance. - Discussions on modifying the minerals pact have picked up as work on a Bilateral Trade Agreement gains momentum. Source: [Moneycontrol](https://www.moneycontrol.com/news/business/economy/india-looks-to-stitch-critical-minerals-into-bilateral-trade-agreement-report-12972973.html), [Mint](https://www.livemint.com/industry/new-delhi-critical-minerals-trade-us-tax-coal-lithium-joe-biden-piyush-goyal-commerce-ev-trump-tariff-11742725587144.html)

New Delhi and Washington signed an MoU on critical minerals in October last year to boost supply-chain resilience.
Indian officials are pushing to upgrade this MoU into a full-fledged trade agreement to unlock US tax benefits for EVs and batteries.
India ranks third globally for rare earth reserves, while the US holds the seventh position.
India unveiled a 34,300 crore critical minerals mission in January to achieve self-reliance.
Discussions on modifying the minerals pact have picked up as work on a Bilateral Trade Agreement gains momentum.

Source: Moneycontrol, Mint