India to expand cooperation with Russia in another strategic sphere
Russia and India are negotiating the preparation of a preliminary agreement in the field of critical minerals, primarily lithium and rare earth elements. According to information from Reuters agency, the document may be signed within the next two months.
Russian President Vladimir Putin and Indian Prime Minister Narendra Modi. Photo: Mikhail Tereshchenko, Sputnik, Kremlin Pool Photo via AP
The main idea of the agreement is to establish long-term cooperation between the countries in the exploration, extraction, and processing of useful minerals. It also plans for technology exchange and investment support from state and private companies.
India is actively seeking to strengthen its position in the market for critical materials, as it is currently heavily dependent on China, which controls a significant portion of global supplies and processing technologies. Therefore, New Delhi is looking for alternative raw material sources and partners worldwide.
In recent years, India has already concluded a number of agreements in this area with Argentina, Australia, and Japan, and is also negotiating with Chile and Peru. However, the results are still limited — the country has only one real lithium extraction project in Argentina.
In the context of cooperation with Russia, the possibility of Russian companies participating in lithium projects in third countries is also being discussed. For example, India's return to a project in Mali, which is linked to the Russian state corporation "Rosatom," is being considered if the security situation there improves.
In 2023, India officially recognized more than 20 minerals, including lithium, as strategically important for the development of energy, electric transport, and industry. This is due to the growing demand for batteries, electronics, and "green" energy.
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