India eyes new critical mineral supply deals with Zambia and Chile for EV and tech growth

India is accelerating its strategy to ensure reliable access to critical minerals as the world moves toward cleaner technologies and electric mobility. Zambia and Chile have been approached for fresh supply agreements because of the expected growth in demand for electric vehicles, batteries, and advanced electronics. It is widely understood that both countries have reserves of copper, cobalt, and lithium, metals that are considered essential for advancing energy technology and energy efficiency.

Aside from diversifying imports, this move also enables India's manufacturing and startup ecosystems to become more resilient. It is increasingly difficult to source raw materials at predictable costs for entrepreneurs in the green technology and energy storage industries. It is possible for India to directly support its goal of increasing domestic battery production and decreasing its dependence on China by entering a long-term supply agreement with Chile, one of the largest lithium producers in the world. Electrification and clean energy equipment manufacturing industries in Zambia can take advantage of Zambia's cobalt and copper reserves.

Globally, every major economy is pursuing mineral resources in order to secure growth. A stable business environment is seen as an opportunity to strengthen India's supply chain. The possibility of scaling faster without facing supply shocks opens up for young founders entering the electric mobility, solar power, and tech hardware industries. This also connects with the government’s larger vision of making India a hub for green manufacturing and self-reliant in strategic sectors.

What makes this development significant is the timing. India’s EV market is expanding at double digits, with startups and established auto giants investing heavily in battery technology. Demand projections suggest that India will require millions of tonnes of lithium and cobalt in the next decade. Without a secure supply, the growth curve can slow down. By directly engaging with countries like Chile and Zambia, India is making sure the supply chain supports the ambitions of both large corporates and smaller entrepreneurial ventures.

The deals are also expected to boost foreign policy ties, adding economic depth to India’s global partnerships. For investors, it signals that the government is serious about long-term sustainability in critical industries. For entrepreneurs, it sets the stage for new opportunities in mining partnerships, recycling technologies, and battery design startups. With the right mix of private sector involvement and strong international partnerships, India’s future in the global EV and technology market looks set to grow at a much faster pace than before.