India is considering unlocking its lithium resources, a key ingredient for batteries used for electric vehicles and energy storage, to achieve more self-sufficiency in green technologies, reported Bloomberg News.

A proposal has been drafted that includes amendments to the existing policies to allow lithium extraction by private miners, the publication reported citing people privy to the development.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The government is awaiting clearance from lawmakers for the revisions in the current session of parliament.

Under the proposed amendments, eight minerals, including beryllium, lithium, and zirconium, could be eliminated from the list of minerals that currently restricts production by private companies.

Subject to approval for the amendments, the government will undertake auction permits to exploit lithium reserves in the country, the people said.

The move is expected to help India reduce its dependence on some of the key minerals’ imports.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

India is also looking to boost local manufacturing of zero-emissions solutions to support its 2070 target for carbon neutrality.

The installation of huge volumes of battery storage capacity is considered key to enabling renewables’ use round-the-clock to achieve India’s target to have 500GW of installed clean power capacity by 2030.

According to the Indian Mines Ministry, the government agencies made small discovery of lithium resource at a site in Karnataka.

However, the country is required to find and develop further lithium deposits to enable production at larger scale.

The country is also exploring lithium and cobalt assets overseas.