Impact of India’s Battery Demand on Imports: Paper
India’s battery electric vehicle (BEV) sales have grown rapidly, with a compound annual growth rate of 62.5% from fiscal year (FY) 2019–20 to FY 2024–25. Yet this growth has not been matched by growth in domestic battery manufacturing and India’s battery cell demand is currently met almost entirely through imports. As BEV adoption accelerates further, battery imports may continue to grow if local battery manufacturing supply chains remain inadequate, even as reliance on imported petrol and diesel declines.
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