In a bid to bolster India-Bolivia trade, Bolivia has offered its Lithium reserves to India. Bolivia holds the largest reserves of Lithium which is the metal used in laptop batteries, smartphone batteries and electric automobile batteries. Bolivia is looking to sign a Preferential Trade Agreement with India to lower tariffs on India-Bolivia trade.Â
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Bolivia’s ambassador Sergio Dario Barrientos said today that Narendra Modi is amply respected in the international community for his governance and measures. He said that Bolivia wants India to explore Latin America even more so that both India and Bolivia gain mutually. He said that Bolivia which has the largest lithium reserves in the world looks to have a strategic partnership with India.
How important is Lithium for India?
As already mentioned, Lithium is used in smartphone batteries, electric car batteries and laptop batteries. Bolivia’s ambassador Sergio Dario Barrientos said that with India wanting to have an all-electric car fleet by 2030, Lithium becomes a very important commodity for India to pursue its ambitions. He said that an early consolidation of trade ties will make things easier and create a win-win situation for both the nations.
He further added that India must look at Latin America with stronger objectives. He suggested that the present atmosphere in his country is all-favourable for the Indian industries. He also added that China is already acquiring Lithium from Bolivia.
Does India have an Embassy in Bolivia?
As a matter of fact, India does not have an embassy in Bolivia. Bolivia’s ambassador Sergio Dario Barrientos said that India does not have an embassy in Bolivia and there is only a concurrent embassy. He suggested that for India to fulfil its large economic aspirations it should have a strong presence all over the world. The Indian embassy in Lima is concurrently accredited to Bolivia since 1981.
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