India's import dependence of lithium-ion battery will drop to 20% by FY27: CareEdge Ratings
Currently, nearly all of India's 15 GWh demand for Li-ion batteries is met through imports. However, this demand is projected to soar to 54 GWh by FY27 and further to 127 GWh by FY30, driven by increased EV adoption and decarbonization of the energy grid.
New Delhi, November 14 (ANI): India is making strides to reduce its dependence on imported lithium-ion (Li-ion) batteries, a report by CareEdge Ratings says it is expected to drop to about 20% by FY27.
The shift comes as the country accelerates its push toward renewable energy, aiming to meet 50% of its energy needs from renewable sources by 2030.
This goal, along with growing demand for electric vehicles (EVS) and grid-level energy storage, is driving a rapid rise in demand for advanced batteries like Li-ion.
To support this transition, the Government of India has introduced measures such as the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme and Viability Gap Funding (VGF) for Battery Energy Storage Systems
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