Explainer: Why India's battery market is set to boom
India's need for advanced batteries is about to explode—from 28GWh in 2025 to over 700GWh by the mid-2040s.
This huge jump is all about powering more electric vehicles and storing clean energy, which are key for hitting climate goals and the Viksit Bharat Vision.
LFP batteries will dominate
Lithium Iron Phosphate (LFP) batteries are expected to make up over 60% of India's battery market by 2047.
They're popular because they're safer, more affordable, and handle heat well—plus, this matches what's happening globally as battery storage grows fast.
A chance for India to boost its own manufacturing
Rajesh Kulhari, Joint Secretary, Ministry of Renewable Energy, says building a strong battery ecosystem needs policy makers, regulators, utilities, financiers, manufacturers, developers and researchers to come together.
As IESA President Debmalya Sen puts it, this surge is a big chance for India to boost its own manufacturing while shifting toward cleaner energy.