India could be poised to make its second ‘discovery’ oflithiumreserves, with news agency IANS on Monday saying theGeological Survey of India(GSI) has found a large reserve of the critical mineral — used in electric vehicles to laptops and mobile phones — at Degana area of Nagaur district of Rajasthan.
Understandably, the report created a buzz throughout the day and analysts joined the ring on the commercial and strategic upside for the country, especially ending China’s monopoly.
US Geological Survey puts total lithium reserves globally at just 80.7 million tonnes. Nearly 54% of India’s lithium imports are from China, which hogs 80% of global supply. Available data shows India imported lithium worth over Rs 6,000 crore, including Rs 3,500 crore worth from China, in 2020-21.