India Eyes Argentina’s Lithium Reserves for Its EV Revolution

India Seeks Lithium and Energy Deals in Argentina to Secure Critical Minerals for EV Future

Editorial Team (ET)May 8, 2025

India is intensifying its pursuit of critical minerals, particularly lithium, by deepening investments in Argentina’s energy sector. The South Asian giant is strategically positioning itself in Latin America's resource-rich landscape to secure vital materials for its clean energy transition.

During a recent visit to Buenos Aires, India’s mining secretary, V.L. Kantha Rao, underscored the country’s commitment to expanding its foothold in Argentina’s lithium, gas, and oil sectors. His visit marked the first in-person talks since India and Argentina inked a preliminary agreement in 2022 to collaborate on mineral exploration and technology exchange.

Lithium: The Core of India’s Energy Transition

With an ambitious goal of converting 30% of its vehicle fleet to electric by 2030, India is racing to secure lithium—an essential component in EV batteries. The government has identified lithium among 30 critical minerals necessary for its clean energy push.

Several Indian firms are already exploring Argentina’s lithium reserves. State-owned Khanij Bidesh India Ltd and Coal India, along with private company Greenko, have been actively surveying lithium deposits in Catamarca, a province bordering Chile.

“We hope that in the next six months, there will be a new announcement,” Rao stated, hinting at further investment commitments, particularly in the provinces of Salta and Jujuy.

Argentina’s Investment Climate and Policy Reforms

Argentina, the world’s fourth-largest lithium producer, is a key player in the so-called “lithium triangle,” alongside Chile and Bolivia. President Javier Milei has been pushing deregulation and pro-business policies to attract foreign investments and stabilize the nation’s struggling economy.

Indian officials are also keen on Argentina’s Large Investment Incentive Regime (RIGI), which provides tax benefits for projects exceeding $200 million. However, Rao emphasized the need for policy stability, stating, “We want a stable framework, not one that changes every five years.”

Beyond Lithium: India’s Broader Energy Interests

While lithium is a focal point, India’s interest in Argentina extends beyond battery metals. The country is also looking to tap into Argentina’s copper, gold, natural gas, and oil resources.

Last week, Argentina’s state-controlled oil firm YPF signed a memorandum of understanding with three Indian companies, paving the way for potential liquefied natural gas (LNG) exports to India. Given India’s rising energy demands, such agreements are crucial for securing stable energy supplies.

The Geopolitical Play: India vs. China in Latin America

India’s strategic push into Argentina’s energy sector is not happening in isolation. China, which has already cemented itself as a dominant force in Latin America’s mining industry, is also vying for control over lithium resources.

By strengthening economic ties with Argentina, India aims to reduce dependence on China and diversify its supply chain. This move aligns with New Delhi’s broader policy of securing critical raw materials from multiple sources, ensuring supply resilience amid global geopolitical uncertainties.

Conclusion: A Crucial Partnership for the Future

India’s growing interest in Argentina’s mining and energy sectors signals a long-term commitment to securing resources for its green transition. With electric mobility, renewable energy, and industrial demand surging, India cannot afford to lag in the race for lithium and other critical minerals.

As Argentina opens its doors to foreign investment, India’s role in Latin America’s resource landscape is set to expand, potentially reshaping global supply chains in the coming years.

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