Exciting news has emerged from the Nagaur district in Rajasthan, India - the discovery of lithium reserves with the capacity higher than the existing Jammu & Kashmir reserves.
The discovery of these reserves is a major milestone for India, which currently relies heavily on imports to meet its growing demand for lithium. The new reserves can satisfy 80 percent of India’s total demand claimed the Geological Survey of India.
It is estimated that the global value of 1 ton Lithium is Rs.57.38Lakh. According to the World Bank report it is estimated that the demand for the lithium is going to increase by 500% by the year 2050. With the new reserves, India could become self-sufficient in meeting its lithium needs, which could have a significant impact on the country’s economy.
The potential impact of this discovery cannot be overstated, as lithium is a key component in the manufacturing of batteries for electric vehicles and other electronics.
The world’s largest lithium reserves of 21 million tonnes are currently in the country of Bolivia. After this, there are also large reserves in Argentina, Chile & America. China has the reserves of 5.1Million,yet has the monopoly in the global market.
In the year 2020-21, India had imported 6500 crore worth of lithium, out of which 3500 crore came from China.
The discovery of these reserves is a major milestone for India, which currently relies heavily on imports to meet its growing demand for lithium. With the new reserves, India could become self-sufficient in meeting its lithium needs, which could have a significant impact on the country’s economy.
It will be interesting to see how the reserves are developed and how they will affect the stock markets in the coming years. What do you think? Do you believe India is ready to become self-sufficient in meeting its lithium needs? How do you think the discovery will impact the global market? Share your thoughts in the comments below!
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