banking service chronicle

banking service chronicle

banking service chronicle Published this article page no 01 Overall the global lithium battery market is projected to grow substantially in coming years from 30 billion U.S. dollars in 2017 to over 100 billion U.S. dollars by 2025. o Global production has so far not fulfilled the global demand causing a global supply shortage of the metal. Lithium in India The ancient igneous rock deposits in the Karnatakas Mandya district holds the first traces of Lithium ever to be discovered in India. The preliminary find is relatively small a mere 1600 tonnes of lithium deposits. o The presence in Mandyas rocks is also mere inference at this point with mining and extraction many months away. o India currently imports all its lithium needs. Over 165 crore lithium batteries are estimated to have been imported into India between 201617 and 201920 (up to November 30 2019) at an estimated import bill of upwards of $3.3 billion. Significance of secured Lithium supply India has unveiled plan for developing a battery storage ecosystem which involves setting up at least 50gigawatt hour manufacturing capacity for advanced chemistry cell batteries banking service chronicle monthly magazine buy.

banking service chronicle