Large reserves of Lithium have been traced in the Degana municipality of Nagaur district in Rajasthan, according to officials of the Rajasthan Government and the Geological Survey of India (GSI)
It is being said that the capacity of Lithium reserves found in Rajasthan is higher than the Lithium reserves found in Jammu and Kashmir recently. 5.9 million tonnes of Lithium reserves were found for the first time in the country in Jammu and Kashmir previously
The estimated capacity of Lithium in Rajasthan is claimed to be capable of meeting 80 per cent of India's total demand which can reduce the country's dependence on China substantially, said a Times of India report
The report further stated that between 2020 to 2021, India imported Lithium worth Rs 6,000 crore. Of this, Rs 3,500 crore of Lithium was bought from China. Therefore, the large reserves in Rajasthan comes as a big relief for India which is looking at reducing the dependence on China
It must be noted that Lithium is a non-ferrous metal and is one of the key components in EV batteries. The discovery of these Lithium reserves will give a big boost to the EV industry
With the discovery of Lithium reserves, India will now be able to reduce its dependence on foreign countries and control the fluctuating price of Lithium. The development will not only enable the country to meet its own requirements but also allow it to supply Lithium to other countries
According to the World Bank report, by the year 2050, the global demand for Lithium metal will increase by 500 per cent. Therefore, the discovery of Lithium reserves in Rajasthan is expected to benefit the country's economy
Earlier, Hyderabad-based National Geophysical Research Institute found large deposits of 15 rare earth elements (REE) in Andhra Pradesh’s Anantapur district. REE of the lanthanide series are critical components in many electronic devices like cellphones, televisions, computers, and automobiles used daily and in various industrial applications
Recently, Chile's President Gabriel Boric said that he would nationalise the country's lithium industry, the world's second-largest producer of the metal essential in electric vehicle batteries, to boost its economy and protect its environment