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India, UAE Eye Third-Country Critical Mineral Investments
27 Jul
Summary
- India and UAE explore joint third-country investments in critical minerals.
- Enhancing air services pact is key to boosting trade and tourism growth.
- Both nations aim to achieve a $200 billion bilateral trade milestone.
India and the United Arab Emirates are set to deepen their strategic alliance by exploring joint investments in third countries, with a specific focus on critical minerals. This initiative, discussed by UAE Minister of Economy and Tourism Abdulla Bin Touq Al Marri, is designed to fortify global supply chains against rising geopolitical uncertainties.
The proposed trilateral approach would see both nations co-investing in the sourcing and processing of essential minerals like nickel, cobalt, copper, and lithium, which are foundational for renewable energy technologies, batteries, and semiconductors.
Furthermore, the UAE minister advocated for an enhanced air services agreement between India and the UAE. He highlighted that the current seat entitlements have been fully utilized, and increasing capacity is crucial for supporting further growth in trade, tourism, and investment.
This expanded air connectivity is expected to reduce airfares, benefiting consumers and fostering greater people-to-people connections. The partnership has already been instrumental in achieving a $100 billion bilateral trade target, and similar efforts are anticipated to help reach the next goal of $200 billion.
