Japan Current Affairs - 2019
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India and Bolivia have signed an agreement for the development and industrial use of lithium, a prime component used to power electric vehicles and cell phones during the state visit of the President Ram Nath Kovind to Bolivia.
- India and Bolivia agreed to forge a mutually beneficial partnership to facilitate Bolivian supplies of lithium Carbonate to India and foster joint ventures for lithium battery/cell production plants in India. This agreement will make Bolivia, which is known to have one-fourth of the world’s lithium reserves, one of the major provider of metal for India’s e-mobility and e-storage needs.
- The agreement facilitates mechanisms for the commercialization of Lithium Carbonate and Potassium Chloride produced in Bolivia by Yacimientos de Litio Bolivianos Corporación (YLB – Corporación).
Why the agreement can be a game changer?
- Bolivia is estimated to hold over 60 per cent of the world’s reserves for lithium, which is required for lithium-ion batteries for portable electronics, and electric vehicles, but has not yet started producing it commercially.
- India is the second largest manufacturer of mobile phones in the world and has the ambitious goal of 30 per cent electric vehicles by 2030. But India imports all its lithium-ion batteries since India has no known sources of lithium, and zero lithium-ion battery manufacturing capabilities currently.
- As a result, India is heavily dependent on China, Taiwan and Japan for import, especially of batteries required for portable electronics.
- With the MoU number of Indian companies setting up production capabilities in Bolivia goes up, as well as the import of lithium to India. Domestic production is also set to see a boost, from the automotive perspective. Further, the arrival of hybrids and electric vehicles from as early as 2020 onwards, will force manufacturers to look at local production.
This agreement could turn out to be the backbone for the recently launched FAME India policy (Faster Adoption and Manufacture of (Hybrid and) Electric Vehicles) and will also give a substantial push to India’s ambition to have at least 30 per cent of its vehicles run on electric batteries by 2030.
Hyderabad-based pharma Laurus Labs Limited has announced that it has entered into a strategic partnership agreement with Global Fund for a period of 3.5 years. The agreement gives Laurus Labs volume commitments for drugs from the Global Fund for the treatment of HIV/AIDS.
Global Fund to Fight AIDS, Tuberculosis and Malaria
Global Fund to Fight AIDS, Tuberculosis and Malaria was created in 2002 to raise, manage and invest the world’s money to respond to three of the deadliest infectious diseases the world has ever known. The Global Fund was established with an objective to defeat these three diseases.
AIDS, TB and malaria are all preventable and treatable. The tackling of these disease requires the commitment not only of world leaders and decision-makers but also of those working on the ground to help the men, women and children living with these diseases.
The idea of Global fund was discussed in the G8 summit in Okinawa, Japan, in 2000 and the real commitment began to coalesce at the African Union summit in April 2001. The idea continued doing rounds at the United Nations General Assembly Special Session in 2001 and finally endorsed by the G8 at their summit in Genoa, Italy, in July 2001.
The public sector contributions have constituted 95 per cent of all financing raised by the Global Fund and the remaining 5 per cent came from the private sector or other financing initiatives such as Product Red.
Global Fund aims to attract, leverage and invest additional resources to end the epidemics of HIV/AIDS, tuberculosis and malaria to support attainment of the Sustainable Development Goals established by the United Nations.
Tags: AIDS • G8 summit • Global Fund • Global Fund to Fight AIDS Tuberculosis and Malaria • Italy • Japan • Laurus Labs • Malaria • Sustainable Development Goals • tuberculosis • UNGA • United Nations • United Nations General Assembly