Centre pushes for critical minerals in US trade deal

The deal is aimed at strengthening supply chain resilience for critical minerals

- Dhirendra Kumar

NEW DELHI: Indian trade officials are pushing their American counterparts to stitch their recent critical minerals deal into an upcoming trade agreement, two people aware of the discussions said, a tweak that may unlock US tax benefits for electric vehicles and batteries using these scarce resources.

The October agreement aimed to strengthen supply chain resilience for critical minerals such as lithium and cobalt. While India ranks third in the world for rare earth reserves, the US holds the seventh position. In January, India unveiled its own ₹34,300 crore critical minerals mission to achieve self-reliance in critical minerals.