#India mulling to discuss mechanism with #Australia under FTA for smooth supply of critical minerals
India is considering to discuss a mechanism with Australia for a smooth supply of their critical minerals under the comprehensive Free Trade Agreement (FTA) amid a huge demand in the domestic market, according to sources.
India and Australia have implemented an Economic Cooperation Trade Agreement (ECTA) in December 2022, and now negotiations are on for expanding the scope of that agreement into a comprehensive pact (Comprehensive Economic Cooperation Agreement or CECA).
There is a huge demand for critical minerals like lithium, titanium, vanadium, cobalt, nickel, and graphite in India as the country is targeting to boost the production of renewable energy by 2030.
Batteries will enable the current energy transition towards electric mobility, integration of renewable energy through grid-scale storage and improved energy access in India.
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