India’s Strategic Quest for Energy and Lithium Investments in Argentina: Unlocking Future Opportunities

Indian companies are making strides in Argentina, particularly in the search for lithium. Khanij Bidesh India Ltd and Coal India, along with private player Greenko, are currently exploring lithium resources in Catamarca, a province in northwest Argentina that borders Chile.

During an event at the Indian embassy in Argentina, Rao expressed optimism for more announcements in the next six months. He mentioned that there is also interest in other provinces like Salta.

As a major producer of greenhouse gases, India is keen on securing essential minerals from resource-rich countries such as Australia, Argentina, and Chile. The Indian government, led by Prime Minister Narendra Modi, has listed 30 critical minerals, including lithium, as vital for its clean energy goals.

Dinesh Bhatia, India’s ambassador to Argentina, shared that India has ambitious plans to shift towards electric vehicles, aiming for 30% of all vehicles to be electric by 2030.

Indian officials plan to visit Catamarca soon and will meet with Argentine Economy Minister Luis Caputo. They are looking into benefits from Argentina’s Large Investment Incentive Regime (RIGI), which provides tax breaks for investments over $200 million.

Rao emphasized the need for a stable investment framework, expressing confidence in current policies that are attracting foreign companies.

Argentina is notable as the fourth-largest lithium exporter globally and is part of the “lithium triangle,” which includes Chile and Bolivia. The country’s President, Javier Milei, is advocating for deregulation to attract investments and tackle ongoing economic challenges.

In addition to lithium, India is exploring opportunities in Argentina’s copper, gold, gas, and oil sectors. Recently, Argentina’s state-owned oil company YPF signed an agreement with three Indian firms for potential liquefied natural gas (LNG) exports.

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