Schedule a Call Back
India to receive critical mineral access with Australian FTA; lower emissions
Industry News- Jul 03,24
Like Australia, India has signed a trade pact with the four-nation European Free Trade Association (EFTA) and Norway is a key member of that grouping.
India and Australia are negotiating to upgrade their Economic Cooperation and Trade Agreement (ECTA) to Comprehensive Economic Partnership Agreement (CEPA). Last year, both countries had reached an agreement on a Critical Minerals Investment Partnership, which identified five target projects (two lithium and three cobalt) on which to undertake detailed due diligence.
Investments under the partnership will seek to build new supply chains underpinned by critical minerals processed in Australia, that will help India’s plans to lower emissions from its electricity network and become a global manufacturing hub, including for electric vehicles.
At the conference, commerce secretary Sunil Barthwal said India and Australia are looking at ways to increase cooperation in critical minerals and their processing, besides battery production.
“We are looking at how we can integrate our (India and Australia) economies in terms of battery production, in terms of mineral production, in terms of mineral processing, in terms of vehicle production,” he said.
Barthwal added that like Australia, India has signed a trade pact with the four-nation European Free Trade Association (EFTA) and Norway is a key member of that grouping.
“Norway has done extremely well in terms of the renewable energy sector…and we are collaborating with Norway. Similarly, we are collaborating with the European Union.
“We have a technology group where we are looking at different technologies in battery making, in vehicle making, in mineral processing, in critical technologies,” he added.
Talking about the EV opportunity in India, Barthwal said that the sale of EVs is increasing at a fast pace in the country and it needs a whole ecosystem, not just manufacturing.
“A whole gamut of activities is going to open up through the energy transition in the country, and there is a lot to do both by the government and the private sector, and therefore a great opportunity is coming to investors to invest in this whole value chain,” he said.
(Source: FE)
Related Stories
Aerospace Defence
A strong aerospace ecosystem needs skilled SMEs and talent:
In an interview with Ashlin Rajan, Bharat Bhushan Nagpal, CEO, Merlinhawk Composites & Engineering Pvt Ltd, discusses advanced manufacturing and India’s growing aerospace capabilities
Read moreAutomation & Robotics
How AI and Automation Are Transforming the Future of Chemical Manufacturing
From connected plants to autonomous operations, digital technologies are transforming chemical manufacturing into a more predictive, efficient and sustainable industry, writes Rakesh Rao.
Read moreSmart Manufacturing
How Trufrost & Butler Is Building India’s Foodservice Equipment Base
A flexible factory, a localisation roadmap and an export ambition define Trufrost & Butler’s manufacturing bet, writes Ashlin Rajan.
Read moreRelated Products
Ultra-slim Humidity/temperature Indicator With Large 4” Display
ELECTRICAL & ELECTRONIC EQUIPMENT
Countronics offers a wide range of ultra-slim humidity/temperature indicator with large 4” display – Model 7100-4W.
Read more
Integrated Electric Gripper S Series
ELECTRICAL & ELECTRONIC EQUIPMENT
IBK Engineers Pvt Ltd offers a wide range of integrated electric gripper S series.
Geared Electric Motors
ELECTRICAL & ELECTRONIC EQUIPMENT
Delco Fans Pvt Ltd offers single phase capacitor run and three
phase geared Instrument motors, totally enclosed face/foot mounted.
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
