INDIA - BOLIVIA sign MOU to allow access VAST LITHIUM DEPOSIT

INDIA - BOLIVIA SIGN 'MOU' To Allow Access                VAST LITHIUM DEPOSIT                       

Note point:- BOLIVIA CAPITAL- LAPAZ

lAKE TITICACA is the highest Altitude Lake in the World.( Reason of vast LITHIUM DEPOSIT) 

CONTACT:- 

# India and Bolivia have signed an agreement for the development and industrial use of LITHIUM which is used to power electric vehicles and cellphone.

# Bolivia consist 1/4 of the world LITHIUM reserve.

One of the major provider metal for India's e-mobility and e-storage needs.

# The agreement facilities mechanism for the commercialisation of LITHIUM Carbonate and POTASSIUM Chloride produced in Bolivia.

SIGNIFICANCE:- 

# India is the second largest manufacturer of mobile phones in the World and has ambitious goal of 30 percent electric Vehicles by 2030.(by this decrease import bill of cruied oil)

# But India is heavily dependent on China, Taiwan and Japan for Import especially of batteries required for portable electronic.

# This agreement could also turn out to be the back bone for the recently launched FAME INDIA SCHEME POLICY (Faster Adoption and Manufacture of Hybrid and Electric Vehicles).