Critical mineral push: India eyes lithium and copper from Peru, Chile and Argentina; FTAs pushed amid supply chain turmoil
A high-level delegation from India’s mines ministry is visiting Peru this week to explore opportunities for lithium, copper and rare earth imports, while the country prepares for a third round of free trade agreement (FTA) negotiations with Chile, according to an ET report.
India is also considering an FTA with Peru to expand trade and secure resources.Five Indian companies currently have investments in Peru’s mining sector, totaling an estimated $61 million, according to a factsheet from the Indian Embassy.
Peru ranks among India’s top five trading partners in Latin America, with gold imports already in place.Chile, home to some of the world’s largest lithium and copper reserves, is being targeted for deeper economic engagement, while Argentina—visited by PM Modi in June—offers opportunities in critical minerals, energy and agricultural products, including soybeans and sunflower oil.The government aims to conclude the two FTAs quickly amid global supply chain disruptions and the growing weaponisation of strategic resources.
