Bolivia offers its Lithium reserves to India; plans to ink PTA on other goods

Bolivia, known to have the largest reserves of Lithium, has offered the metal -- used in making batteries of electric vehicles, laptops and smart phones -- to India, the South American nation's ambassador, Sergio Dario Arispe Barrientos, said today.

Barrientos said his country is willing to sign a Preferential Trade Agreement (PTA) -- a pact between countries that provides preferential access to certain products by lowering tariff and other conditions -- with India for select goods.

Terming Prime Minister Narendra Modi as somebody respected in the international community for a host of measures being taken by him, the Bolivian ambassador said he expects him to explore Latin America more to create a win-win situation for both the countries.

Talking to PTI, Barrientos said Bolivia has the largest reserve of Lithium in the world and it can become a strategic partner to India in providing the resource.

"We have the largest Lithium reserves. We would like India (both the government and the private sector) to explore this opportunity," he said.

Referring to reports that India was looking at an all-electric car fleet by 2030, the ambassador said in the years to come Lithium will become a very important commodity.

"I think the sooner we consolidate the links with particular countries, which have markets, I think it would be better in way of ensuring your needs (of meeting supply demands of Lithium)," he said.

According to a Niti Aayog report: "In line with its aspiration to achieve 100 per cent electric vehicle (EV) sales by 2030, India can rise among the top countries in the world in manufacturing batteries."