With China holding a near-monopoly on uncommon earths manufacturing, some international locations are looking for different sources.
Rishabh Jain, an knowledgeable with the Delhi-based Council on Vitality, Surroundings and Water suppose tank, mentioned India’s rising cooperation with Brazil on vital minerals enhances latest provide chain engagements with the USA, France and the European Union.
Whereas these partnerships grant India entry to superior applied sciences, finance and high-end processing capabilities, “International South alliances are vital for securing diversified, on-ground useful resource entry and shaping rising guidelines of worldwide commerce”, Jain informed AFP.
“CHALLENGES”
Modi and Lula are additionally anticipated to debate international financial headwinds and strains on multilateral commerce techniques after each of their international locations had been hit by US tariffs in 2025, prompting the 2 leaders to name for stronger cooperation.
Washington has since pledged to roll again duties on Indian items below a commerce deal introduced earlier this month.
“Lula and Modi may have the chance to change views on… the challenges to multilateralism and worldwide commerce,” mentioned Brazilian diplomat Susan Kleebank, the secretary for Asia and the Pacific.
Brazil is India’s largest accomplice in Latin America.
Key Brazilian exports to India embody sugar, crude oil, vegetable oils, cotton and iron ore.
Demand for iron ore has been pushed by fast infrastructure growth and industrial development in India, which is on monitor to turn out to be the world’s fourth largest financial system.
Brazilian companies are additionally increasing within the nation, with Embraer and Adani Group saying plans final month to construct plane in India.
Lula addressed the AI Affect summit in Delhi on Thursday, calling for a multilateral and inclusive international governance framework for synthetic intelligence.
He’ll journey on to South Korea for conferences with President Lee Jae Myung and to attend a enterprise discussion board.
