Outlining a fresh approach towards free trade agreements (FTAs) with other countries, India is looking at these pacts keeping the country’s strategic needs in mind rather than just viewing it from the trade perspective. Commerce Secretary Sunil Barthwal on Monday said such FTAs are being considered keeping in mind the future requirement for critical minerals for its energy transition, which would require batteries, and for strategic consideration.
India is looking at commencing negotiations for an FTA with Peru and Chile both of which have expressed interest in such trade pacts. “.Some of the smaller countries (are being considered) from the point of view of securing critical minerals. From Peru and Chile there is a good possibility of securing critical mineral supply because it will help us in our energy transition when we go for battery making…so, in addition to trade, now, we are looking at FTAs from the point of view of our strategic considerations. So, that is the fresh approach that we are taking in our FTAs,” Barthwal said.
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