New Delhi, Feb 21 (EFE).- Indian Prime Minister Narendra Modi and Brazilian President Luiz Inácio Lula da Silva signed a cooperation and technical investment agreement on Saturday to jointly explore and develop critical minerals, aiming to secure strategic supplies of rare earths, lithium, and niobium essential for their technological ambitions.
The agreement, signed in New Delhi, seeks to strengthen supply chains for key raw materials used in renewable energy, semiconductors, artificial intelligence, and advanced digital infrastructure, sectors both nations consider vital to their economic sovereignty.
“Increasing investments and cooperation in matters of renewable energy and critical minerals is at the core of a pioneering agreement that we have signed today,” Lula said in a statement after meeting Modi.
“Our countries are ensuring that these technologies have their rightful place on the global climate and energy agenda.”
The pact aligns with New Delhi’s Critical Minerals Mission, which exempts 25 strategic minerals from import duties to reinforce supply chains as India seeks to reduce dependence on China.
Modi stressed the urgency of establishing a secure supply corridor to power what he described as India’s technological revolution, noting that companies announced $300 billion in digital infrastructure investments this week alone.
“The critical minerals agreement will help shape a new and resilient supply chain,” Prime Minister Narendra Modi said.
“We are also prioritizing our cooperation in areas such as Artificial Intelligence, supercomputers, semiconductors, and blockchain. We both believe that technology must be inclusive and become a bridge for shared progress.”
Under the framework, Indian companies will be able to acquire mining assets in Brazil and import raw materials at zero tariff, positioning Latin America as an alternative source of strategic minerals amid China’s dominance in processing and supply.
Brazil, which controls about 90 percent of global niobium production and holds the world’s third-largest reserves of rare earth elements, is emerging as a key mining partner for India’s industrial expansion.
During the meeting, both leaders raised their bilateral trade target to $30 billion by 2030, after trade surpassed $15 billion in 2025.
They also agreed to extend the validity of tourist and business visas from five to 10 years to facilitate commercial ties.
Meanwhile, New Delhi is in the final stages of expanding its trade agreement with Chile to secure preferential access to lithium, further consolidating its outreach to Latin America.
India’s broader strategy aims to provide regional economies with an alternative investment partner while ensuring a steady flow of raw materials to fuel its growing industrial and technological base. EFE
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