Ottawa aims to help meet India’s growing demand for critical resources

The Southeast Asian country is a major producer of tungsten and holds large, still largely untapped reserves of other critical minerals such as rare earths.

The economic bloc will gain access to India’s rapidly growing market, while the subcontinent is expected to benefit from increased investment and new export opportunities. The raw materials sector, in particular, could see long-term gains.

In the first call, 60 projects were already selected. Under the EU Critical Raw Materials Act, these projects can benefit from faster approvals and easier access to funding.

The draft includes provisions on foreign investment, local content requirements, and the stockpiling of critical minerals.  

Supply chains have moved to the center of attention recently.