November 14, 2024 3:29 PM

India’s lithium-ion battery import dependence to fall to 20% by FY27: CareEdge ratings report

India is making significant progress in reducing its reliance on imported lithium-ion (Li-ion) batteries, with the nation's import dependence projected to fall to just 20% by the financial year 2026-27, according to a report by CareEdge Ratings. At present, India meets nearly all of its 15 GWh demand for Li-ion batteries through imports. However, as the country's demand for advanced batteries surges, this figure is expected to grow to 54 GWh by FY27 and further to 127 GWh by FY30. The steep ris...