The Geological Survey of India (GSI) has announced the exciting discovery of 5.9 mln tonnes of lithium in the Reasi district of Jammu and Kashmir, marking it as the first major deposit of its kind in the nation.
This announcement was made during the 62nd Central Geological Programming Board (CGPB) meeting on 09th February 2023, Vivek Bharadwaj, Secretary, Ministry of Mines and Chairman CGPB, where he congratulated GSI for fulfilling the Central Government’s commitment to auction 500 blocks by submitting 287 geological memoranda and 195 G2&G3 reports to the state government since 2015. He urged GSI to maintain the same level of enthusiasm and progress in their field programmes.
As the EV industry continues to grow, lithium has become a key element in the manufacturing of EV batteries. In response to government initiatives to increase the use of electric vehicles, the demand for lithium has been steadily increasing. Additionally, it is essential for energy storage utilities in the electricity sector.
This discovery is a monumental development for the Indian EV industry, as it can now source cells from within the country and reduce their reliance on imports from China and Taiwan. This will drastically cut the cost of batteries and make EVs more affordable for consumers. Moreover, this will help to reduce India’s dependence on China, which is a major concern in the current political climate. This is a tremendous leap forward for the EV industry in India, paving the way for increased adoption of electric vehicles in the nation.