The Indian Minister of Road Transport and Highways, Nitin Gadkari, stated that India could become the world’s top electric vehicle (EV) manufacturer by using a newly discovered reserve of lithium in Jammu and Kashmir. India imports 1,200 tonnes of lithium each year, but about 5.9 million tonnes of lithium reserves were recently discovered in J&K. Lithium is a vital component in EV battery manufacturing. Gadkari noted that India’s automobile industry was worth INR 7.5 Cr and contributes significantly to the overall GST revenue. However, EV players are currently under scrutiny by the Comptroller and Auditor General (CAG) for misappropriating subsidies. Three-wheeler EV manufacturers are urging the Ministry of Heavy Industries for a 50% increase in subsidies under the FAME-II scheme.
According to Union minister Nitin Gadkari, India could become the world’s number one automobile manufacturer in the electric vehicle segment if it uses the recently discovered reserve of lithium in Jammu and Kashmir. The Geological Survey of India (GSI) has estimated that there is a 5.9-million tonne reserve of lithium in Reasi district, which is a crucial mineral used in producing batteries for electric vehicles and solar panels. India currently imports 1,200 tonnes of lithium every year, and the discovery of this reserve could reduce the country’s dependence on imports. If India can utilize this reserve, it could significantly boost the country’s automobile manufacturing sector, which is currently worth ₹7.5 lakh crore and a major contributor to the overall GST revenue.