Electric vehicle (EV) batteries, smartphone batteries, and other electrical device batteries frequently contain the lightweight metal lithium. With imports satisfying more than 80% of its consumption, India is a significant lithium importer. However, India has made significant strides in locating its own lithium reserves in recent years, which may help it cut back on imports and accelerate economic development.
The lightest metal, lithium is a silver – white substance with distinct physical and molecular characteristics. It is utilized in many different sectors, including those that deal with pharmaceuticals, ceramics, glass, lubricants, and energy storage, to name a few. The favoured technology for energy storage in personal devices, electric vehicles, as well as renewable energy systems is lithium-ion batteries. Due to its crucial function in the shift to a low-carbon economy, lithium has attracted a lot of attention recently. By lowering India’s reliance on lithium imports, which itself is currently a bottleneck for the nation’s aspirations for electric vehicles (EVs), the finding of lithium reserves is likely to have a significant impact on the country’s development.
The lithium discovery is also anticipated to generate job possibilities in the manufacturing and mining industries. Numerous jobs could be created by the lithium mining business in the areas where the deposits are found. By generating job possibilities in the generation of energy and other lithium-based goods, the manufacturing sector is also probably to gain from the lithium discovery.
Uses of Lithium:
Although lithium has other applications, batteries are its main application. Electric cars, cellphones, and other electronic gadgets frequently use lithium-ion batteries. These batteries can store a great deal of energy in a tiny amount of space due to their light weight and high energy density. Because they can be recharged, lithium-ion batteries are more ecologically friendly than conventional batteries.
Electric vehicles, solar energy devices, and portable electronics all use lithium-ion batteries. Lithium also contributes special qualities like a high melting point and low thermal expansion to the creation of ceramics and glass. The aerospace and automotive sectors use lithium lubricants because of their high thermal stability, low volatility, and highly viscous index. Drugs that help stabilise temperament are also made using lithium salts.
In addition to batteries, lithium is used to make glass, ceramics, lubricants, as well as air purification devices. Additionally, lithium is employed in medicine as a mood stabiliser to treat bipolar illness.
Lithium Reserves:
The worldwide lithium reserves were projected by the US Geological Survey (USGS) to be approximately 79 million metric tonnes in 2021. Australia, Chile, as well as Argentina are the three nations with the most lithium deposits. More than 70percent of total of the world’s assets are held by these three nations combined.
Lithium reserves have lately been discovered in the Indian state of Karnataka. The deposits in Karnataka may be as much as 14,100 tonnes, according to estimates. This is important because India depends heavily on imports to satisfy its lithium needs. Over 5,800 tonnes of lithium-ion batteries were imported by India in 2020, covering more than 80% of its entire consumption.
Impact on India’s Growth:
India’s economic development is anticipated to be significantly impacted by the finding of lithium reserves there. India is currently the third-largest energy user in the world, and in the years to come, it is anticipated that this demand will increase significantly. The demand for lithium has been anticipated to rise along with the transition to clean energy sources like electric vehicles.
Reducing Dependence on Imports:
The nation will be less dependent on imports, which is one of the biggest benefits of finding lithium reserves there. In 2020, India’s import expense for lithium-ion batteries was estimated to be $1.2 billion. India can reduce its reliance on imports significantly by manufacturing its own lithium.
Creating Jobs:
Additionally, it is anticipated that the finding of lithium deposits in India will boost employment there. Lithium production is a high-tech sector that needs qualified employees. Not only will this help the economy, but it will also give people job possibilities.
Attracting Investments:
It is also anticipated that the discovery of lithium reserves in India will draw investments from businesses seeking to establish manufacturing sites there. Numerous businesses have already expressed interest in funding India’s lithium sector. This will increase the nation’s manufacturing capacity while also generating employment and stimulating the economy.
How the J&K lithium discovery could put China against India in the field of battery technology?
In India, there is a sizable source of lithium, a rare metal used to make batteries for electric cars and other electrical devices. One of the largest lithium deposits in the world, the deposit is thought to be 5.9 million tonnes and is located in the Salal-Haimana region of the Reasi District of Jammu & Kashmir (UT).
Lithium has been found to be present in considerable quantities in the Salal-Haimana region of Jammu & Kashmir’s (UT) Reasi District. With an expected 5.9 million tonnes inside the deposit, it is one of the largest lithium reserves in the globe. This discovery may totally alter India’s needs for energy storage since lithium is indeed a rare metal that is used to make batteries for electric vehicles and electronic devices.
Due to the scarcity of lithium, India has had to rely on other nations for Li-Ion batteries as well as other EV components. One of the reasons the nation has struggled to meet its own requirements for energy storage is due to this. The recent find of lithium sources in J&K is seen as giving India’s goal of becoming self-sufficient in its energy storage requirements a new lease on life.
India’s lithium deposit finding may help the nation become less reliant on imports and strengthen its domestic manufacturing industry. Additionally, it might aid in lowering the price of manufacturing batteries as well as other EV components, which in turn might help Indian customers afford electric vehicles.
Industry specialists and decision-makers have welcomed the news, viewing it as a significant advancement for India’s transition to clean energy. In an attempt to decrease carbon emissions and air pollution, the Indian government has already been pushing for the use of electric vehicles. The discovery of lithium in India might hasten the nation’s shift to clean energy and lessen its reliance on fossil fuels.
Numerous companies are already interested in the lithium discovery that was made in India. However, due to its resource-intensive nature and potential for water pollution, mining for lithium raises questions about its effects on the ecosystem. It will be crucial for the Indian government to make sure that lithium is mined in a responsible and safe way.
Overall, it is believed that the finding of lithium reserves in J&K is a significant development for India’s requirements regarding energy storage. It might lessen the nation’s reliance on imports while bolstering its homegrown industrial industry. However, in order to reduce the impact of lithium mining on the environment, it will be crucial for the Indian government to guarantee that it is carried out responsibly and sustainably.
Conclusion:
In conclusion, India’s finding of lithium reserves is a great advance that is anticipated to have an overall positive effect on the growth of the nation’s economy. India can save a sizable sum of money on import costs by decreasing its reliance on imports. The finding of lithium reserves is also anticipated to spur economic growth in the nation and draw investments from businesses seeking to establish manufacturing facilities. India is well-positioned to satisfy this demand with its own lithium reserves as lithium demand is anticipated to rise in the coming years due to the shift towards clean energy sources.
