India, Australia will gain from expanded trade of lithium resources, says Aus High Commissioner Barry O'Farrell

Australia and India both gain from the promise of expanding trade in lithium resources, said the Australian High Commissioner, Barry O'Farrell on Thursday.

ANI | New Delhi | Updated: 08-01-2021 08:58 IST | Created: 08-01-2021 08:58 IST
India, Australia will gain from expanded trade of lithium resources, says Aus High Commissioner Barry O'Farrell
Australian High Commissioner to India Barry O'Farrell. Image Credit: ANI

Australia and India both gain from the promise of expanding trade in lithium resources, said the Australian High Commissioner, Barry O'Farrell on Thursday. While speaking at a session of the Indo-Australian Chamber of Commerce on 'Lithium: Powering a New Australia-India Partnership', he said both the countries stand to gain from the promise of expanding trade in lithium resources.

"Lithium, and Li-ion and other technologies, will can play a key role. Indeed, India's ambitious renewable energy targets have led to an expansion of its clean energy commitments," he said. O'Farrell added, "Lithium metal-based battery technologies will form the key component of the push for the rollout of EV and hybrid vehicle--and Australia and India both stand to gain from the promise of expanding trade in lithium resources.

"As many of you are already aware, Australia is a reliable and cost-competitive supplier of resource and energy commodities. Australia is the world's largest producer of lithium--and has the second largest lithium reserves in the world. And, as a market leader in Mining Equipment, Technology and Services (METS), our firms can contribute to the development of India's own lithium resources," he said. The Australian High Commissioner mentioned that India's ambitious renewable energy targets have led to an expansion of its clean energy commitments, recalling Prime Minister Narendra Modi's ambition to achieving 450-gigawatt renewable energy generation capacity by 2030, at the 4th India Energy Forum on 26 October last year.

"Australia's resource endowment, and our mining capabilities and expertise, well place us to support Prime Minister Modi's ambitions around development of India's new economy sectors," he opined. He also said that there couldn't be better timing for lithium-related trade and investment, in view of the need for both nations to diversify and strengthen the supply chain, and in recognition of India's drive toward self-sufficiency and the remarkable growth of its new economy sectors. (ANI)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


TRENDING

OPINION / BLOG / INTERVIEW

Addressing conflict-related sexual violence at long last

... ...

Why unequal access to coronavirus vaccines is a threat to us all

... ...

India’s love affair with fossil fuels: the path to sustainable development?

... ...

Videos

Latest News

Delhi Assembly's Budget Session to begin from today

The Budget Session of the Delhi Assembly is scheduled to commence today with an address by Lieutenant Governor Anil Baijal. The Budget Session will be held from March 8 to March 16, 2021.C Velmurugan, Secretary of the Assembly informed that...

WI vs SL, 3rd T20I: Simmons, Allen guide hosts to series win

Fabien Allen played an unbeaten knock of 21 runs off just six balls as West Indies defeated Sri Lanka by three wickets in the third and final T20I on Monday here at the Coolidge Cricket Ground. With this win, the hosts won the three-match s...

Meghan says British royals worried about her son's dark skin

Meghan, the wife of Prince Harry, said there were concerns about how dark her son Archies skin would be before his birth and that such worries explained why he was not given the title of prince. Meghan, whose mother is Black and father is w...

FACTBOX-Sailing-2021 America's Cup teams

Factbox on Team New Zealand and Luna Rossa, who will meet in a series of races at Aucklands Waitemata Harbour, starting on Wednesday, for the Americas Cup TEAM NEW ZEALAND TNZAMERICAS CUP TITLES 3 1995, 2000, 2017 YACHT CLUB Royal New Zeala...

Give Feedback