India has discovered massive lithium reserves in Rajasthan. These reserves are said to contain significantly more lithium than the 5.9 million metric tonnes found in Jammu and Kashmir recently. It is known that the quantity of lithium found in Rajasthan can meet about 80 percent of the country’s demand and requirements.

Lithium is a nonferrous metal that is the lightest and softest metal across the globe. It converts chemical energy into electrical energy and is one of the key components in EV batteries. Lithium-ion batteries are by far the most efficient, safer, and lightweight battery options for electric vehicles. The discovery of lithium reserves in different parts of India augurs very well for the Indian EV ecosystem.

This potential of domestically produced lithium usage in supporting the battery manufacturing industry and the overall EV ecosystem is huge. This would bring much-needed encouragement in the domestic markets that have currently been affected by the withdrawal of the FAME II scheme. EV adoption in India has taken off in a big way, and people are going to continue buying EVs regularly when the holistic and supportive ecosystem is in place. That’s where India has made great progress, and the recent discoveries of lithium reserves will be highly instrumental.

As of now, India depends on imports for many minerals like lithium, nickel, and cobalt and has been looking to strengthen its supply of these key minerals, which are crucial for furthering its plans to expand its electrical vehicle footprint. With the discovery of substantial reserves of lithium in Rajasthan, India can now rely on domestic sources of lithium and reduce its dependence on imports.

India's transition to EVs is an essential part of its plan to curb pollution and reduce the country's dependence on fossil fuels. The use of EVs will not only help in reducing pollution but will also help in conserving natural resources. India has set a target of achieving 30% electric mobility by 2030. With the discovery of lithium reserves in Rajasthan, India can achieve this target and become a leader in the EV space.

India's economic growth rate is high, and it is expected to remain so in the coming years. The discovery of lithium reserves in Rajasthan is a significant boost to India's economy. The development of the processing infrastructure and expertise required to extract lithium from these reserves will create new jobs and spur economic growth. With the global economy still reeling from the effects of the COVID-19 pandemic, India's discovery of lithium reserves comes as a ray of hope.