India to Lead Global Lithium-Ion Battery Exports: Gadkari

Union Minister Nitin Gadkari announced that India will soon export lithium-ion batteries, driven by significant government initiatives and incentives. He highlighted the growth potential of India's EV market and urged the automobile industry to focus on quality, innovation, and support government policies, including the scrappage policy.

The Union Minister of Road Transport Highways, Nitin Gadkari, revealed on Tuesday that India is poised to become a major exporter of lithium-ion batteries. Speaking at the Society of Indian Automobile Manufacturers (SIAM's) 64th convention in New Delhi, Gadkari expressed confidence in India's capability to export these batteries globally.

Highlighting ongoing research and the potential of diverse chemistries such as aluminium and ironic oil, Gadkari noted a significant market opportunity. He attributed this progress to government initiatives and incentives that have encouraged major Indian companies like Adani, Tata, Maruti, LG, and Samsung to venture into lithium-ion battery manufacturing.

Gadkari projected that India's electric vehicle (EV) market would reach one crore units of annual sales by 2030, creating five crore jobs. He emphasized the importance of quality, innovative designs, and advanced technology for the sector to compete globally. Additionally, Gadkari announced a new world-class testing agency in Pune, sanctioned at Rs 450 crore, to enhance vehicle manufacturing research and development.

The Union Minister urged the automobile industry to comply with the scrappage policy, creating better incentives for scrapping old vehicles. He thanked the industry for a 3 percent discount for scrapping and highlighted the potential for a 20-40 percent reduction in component costs. Gadkari stressed the industry's vital role in transforming India into a $5 trillion economy and achieving carbon-neutral status by 2070 through sustainable practices.

(With inputs from agencies.)