Summary
India and Brazil signed an agreement to boost cooperation on critical minerals and rare earth elements. This deal aims to reduce India's dependence on China and strengthens trade relations between the two countries. The agreement is part of India’s broader efforts to diversify its supply chains.
Key Facts
- India and Brazil signed a deal to work together on critical minerals and rare earths.
- The agreement intends to lessen India's reliance on China for these materials.
- Brazilian President Lula and Indian Prime Minister Modi discussed this in New Delhi.
- China currently leads in the mining and exporting of rare earths.
- Brazil is the second-largest holder of critical minerals after China.
- These minerals are important for making products like electric vehicles and smartphones.
- India and Brazil also signed nine other agreements, including digital and health cooperation.
- India sees Brazil as its biggest trading partner in Latin America, aiming to increase trade to over $20 billion in five years.
