U.S. and India Forge Alliance on Mineral Supply Chain for Green Energy

Piyush Goyal, India's Trade Minister, and U.S. Commerce Secretary Gina Raimondo have signed a memorandum of understanding to enhance supply chain cooperation for critical minerals used in electric vehicles and clean energy. This agreement aims to strengthen sector resilience and include third countries in engagement.

In a move to bolster supply chain resilience, Indian Trade Minister Piyush Goyal and U.S. Commerce Secretary Gina Raimondo signed a memorandum of understanding in Washington, focusing on critical minerals for electric vehicles and clean energy.

The agreement seeks to identify and implement best practices in mineral exploration, processing, and recycling, aiming to enhance cooperation between the two nations while also incorporating third-party countries.

Though a significant step, this MOU falls short of a comprehensive trade deal, unlike Japan's agreement with the U.S. that grants Japanese automakers greater access to electric vehicle tax credits.

(With inputs from agencies.)