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According to reports by the Geological Survey of India, huge deposits of lithium have been discovered in the Nagaur district of Rajasthan.
The Geological Survey of India has been searching for lithium deposits within the country in a bid to achieve self-sufficiency in the EV battery sector as lithium is a key resource for it. In February 2023, the GSI managed to locate a massive 5.9 million tonnes deposit in Jammu & Kashmir.
That discovery catapulted India to the position of the country with the 7th largest deposits as the same was a big discovery. However, reports have suggested that the discovery in Rajasthan is an even larger deposit than the one discovered earlier.
Lithium is the most important element for making batteries as it is also known as White Gold, costing close to Rs 58 lakhs per ton. According to the GSI, this deposit, located in the Degana municipality of the Nagaur district, can meet 80% of India's lithium demand.
Currently, India is fully dependent on China for lithium imports as it imported lithium worth Rs 8,811 crores in FY21. Moreover, 97% of all lithium imports made by India are of Chinese origin.
These new deposits will help India gain self-sufficiency in the EV space as the country has major EV goals. India plans to make 30% of all EVs by 2030, reduce carbon emissions by 1 billion tonnes and achieve net zero by 2070.
- Aman Agarwal
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