India’s prime minister Narendra Modi this month hailed a “new energy” in New Delhi’s relationship with the “entire” Latin America, as the world’s fastest-growing major economy tries to deepen ties with the continent to secure the minerals it needs to meet its ambitious green energy targets.
Latin America has the world’s largest lithium reserves and India is pushing mining groups to pursue reserves in the “lithium triangle” — between Argentina, Bolivia and Chile — where most of the region’s proven resources are located.
In recent weeks, Modi met Chilean President Gabriel Boric in New Delhi to discuss the “long-term supply of minerals” — particularly those necessary for the energy transition, such as copper and lithium. “Naturally, critical minerals are a key piece in the matrix,” said Periasamy Kumaran, a top Indian foreign ministry official, referring to Chile.