India finds Lithium Reserve in Jammu and Kashmir worth Rs 3,384 billion

 A reserve of 59 lakh tonnes of lithium, a rare mineral required for everything from smartphones, laptops to electric vehicle batteries, has been found in Jammu and Kashmir's Reasi district. Its total cost is a whopping 3,384 billion.

This will give a boost to the government's plan to roll out electric vehicles faster and cheaper. Currently India is dependent on Australia and Argentina for lithium. This discovery by Geological Survey of India (GSI) is of great value to the country. 

India imports large quantities of lithium. India has been ranked fourth in the world in terms of lithium imports since 2020. India imports 80 percent of its lithium-ion battery materials from China. 

India imports 80% of lithium-ion material for batteries from China. The proposed annual program for the upcoming season (2023-24) was discussed during the Marine Excavation Project meeting.

During the upcoming year 2023-24, GSI will implement 318 mineral extraction activities including 12 marine mineral extraction projects.