India Finds 5.9 Million Tonnes of Lithium Deposits: Big Boost for India’s EV Hopes

The government of India announced that it has found 5.9 million tonnes of lithium in Jammu and Kashmir. This is a first for the country, which has so far imported lithium from countries such as Argentina and Australia. Lithium is one of the major constituents in EV batteries. With the global push for electric vehicles, India's lithium discovery could help the country gain significance in the EV sector.

Lithium Reserves Found in Jammu and Kashmir

India's Ministry of Mines revealed that the Geological Survey of India (GSI) discovered the lithium deposits in the Salal-Haimana region of Jammu and Kashmir. GSI will continue its investigations this financial year as well, with plans to undertake 318 mineral exploration projects.

The government earlier revealed that it has been working on improving the country's supply of rare metals. It believes that this will bolster the country's EV plans.

Discovery of Massive Lithium Deposit: Big Deal for India

Lithium is used in rechargeable batteries, which are not only used in EVs, but also in laptops and smartphones. Countries across the world have been racing to meet the ever-increasing demand for rare metals such as lithium. The sense of urgency has heightened in the past few years, with governments looking to increase the adoption of EVs. India's latest discovery of lithium reserves in Jammu and Kashmir comes at a crucial time, when the world's lithium supply is struggling to keep up with the demand.

Massive lithium deposits are found in Argentina, Bolivia, Chile, and Australia. However, China has a monopoly in the lithium-ion battery market as it reportedly controls nearly 80 percent of the market share. This could be attributed to China's ability to process raw lithium products into batteries.

According to a report, India imports most of its lithium batteries from China. As countries around the world are struggling to reduce their dependence on China, India appears to be proactively taking measures to wean itself off the country.