expected ROI of lithium ion storage project in India 2026

Will India's lithium-ion battery demand decline by FY27?

However, CareEdge Ratings expects India’s import dependency to decline to ~20% by FY27, despite significant growth in demand due to large- scale integrated capacities being built for Li-ion battery storage. Currently, domestic lithium-ion battery storage demand of ~15 GWh is being almost entirely met through imports of lithium-ion cells/batteries.

Are India's lithium-ion reserves resource-constrained?

Although India has limited reserves of some of the most important lithium-ion components, global supplies of minerals for current battery chemistries are not considered to be resource-constrained.

What is the demand for Li-ion battery storage in India?

In FY24, India had a demand for ~15 GWh of Li-ion battery storage largely from EVs and consumer electronics. This demand is expected to reach ~54 GWh by FY27 and ~127 GWh by FY30. Earlier, the high cost of Li-ion batteries was a major hindrance for their large-scale adoption.

How will lithium-ion battery storage demand grow?

Currently, domestic lithium-ion battery storage demand of ~15 GWh is being almost entirely met through imports of lithium-ion cells/batteries. CareEdge Ratings expects Li-ion battery demand to grow exponentially to ~54 GWh by FY27 and later to ~127 GWh by FY30.

How many jobs can a lithium-ion battery plant create in India?

The European Union estimates the direct job creation potential of lithium-ion battery (LiB) plants to be around 90 to 180 jobs per GWh/y production.4 Given the relatively lower labour and logistics costs in India, potential direct and indirect job creation resulting from gigafactories in the country could be much higher.

Why is India a prime candidate for lithium refinery development?

India is a prime candidate for the development of lithium refineries because of its experience in chemical processing, strong port and trade infrastructure, a large future domestic battery market of battery demand, lower capital cost, and trade frameworks with both Australia and Chile.

Need for Advanced Chemistry Cell Energy Storage in India

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