Market Demand
India must enter the Lithium market: Critical need of the hour
China leads the global lithium market, accounting for 13% of lithium resources and 70% of battery cell production. As a result, India relies heavily on international sources for battery-grade lithium and other essential minerals. As the world shifts towards clean energy, lithium has become increasingly vital for advancing clean energy technologies.
India's Opportunity in Lithium
India has discovered significant lithium reserves, estimated at 5.9 million tonnes. This presents a unique opportunity to become a key player in lithium and build out refining/manufacturing capabilities.
Economic Growth
A lithium refinery and battery plant would create numerous jobs and catalyze growth across mining, refining, manufacturing and recycling. This can significantly reduce India’s trade deficit and boost sectors like EVs and renewables.
Energy Independence
India currently relies heavily on lithium imports, mainly from China. Developing local refining capabilities reduces this dependency and enhances energy security amid geopolitical tensions.
Clean Energy Transition
Lithium-ion batteries are essential for powering EVs and energy storage, crucial to achieving India’s climate goals. A domestic refinery facilitates battery production supporting decarbonization commitments.
Technological Advancement
Investing in lithium processing fosters development of local expertise, innovation in sustainable extraction/battery technologies, and a competitive edge in global markets.
Global Positioning
With rising lithium demand, establishing processing positions India favorably in this expanding market through exports, investments and partnerships further enhancing industrial capabilities.
Environmental Considerations
Local refining allows greater control over implementing stringent regulations and sustainable practices to mitigate mining impacts while promoting responsible resource management. The time is right for India to leverage its lithium resources through refining/manufacturing – a critical step for energy independence, sustainable development, and global clean energy leadership.
Through Vardhaan lithium, lets get India in the lithium market.