PM Modi to Visit Namibia on July 9 to Boost Diamond, Uranium, and Mineral Trade

International News: Prime Minister Narendra Modi is all set to visit Namibia for the diamond trade between the two nations. This visit is a part of his five-nation tour, which will begin on Wednesday. According to a media report, this trade will not just focus on diamonds but also on critical minerals and uranium. Many believe that various Indian diamond processing companies are based in Namibia. This will also help to build good relations with the African nation. PM Modi will start his Namibian Tour on the 9th of July.

Namibia's Marine Diamond Deposits

The estimate of Namibia's marine deposits exceeds 80 million carats. These marine deposits are the most significant worldwide, with estimated reserves surpassing those found on land. Indian companies have invested a huge amount in mining, manufacturing, diamond processing, and service sectors in Namibia. The total investment is worth more than $800 million.

Namibian diamonds and India

Namibia sells diamonds to India, but not directly. The trade involves enrouting London, Antwerp, and a few other places. According to sources, Namibia also offers harnessing of critical materials, which can also benefit the electric vehicle manufacturers in India. Also, it can prove to be convenient for developing new mining projects for rare materials found in India like cobalt, lithium, and others. PM Modi is also looking to seal the trade for uranium supplies from Namibia, which is a well-established producer.

Ending China's Monopoly

This trade can play a significant part in ending China's monopoly of these materials. Superpower nation, the United States of America, the rapidly developing India, and many other nations are in favor of ending China's dominance. The trade with Namibia will certainly help. Also, if Namibia agrees to trade uranium as well, India will also benefit in the atomic energy sector.