This report examines India’s EV Battery Value chain and investments and incentives by public and private stakeholders in India. When compared to China’s progress within the EV battery value chain, Indian battery ecosystem lags behind. Currently, India possesses a presence in battery pack assembly and vehicle integration. However, significant deficiencies exist in upstream activities such as mineral procurement and refining, cell manufacturing, and downstream processes encompassing second-life utilisation (recycling and reuse). Additionally, research and development (R&D) efforts remain underdeveloped in India. This disparity is further amplified when compared to China’s levels of private investment. India’s current investment in the EV sector stands at a modest $3.5 billion, a stark contrast to China’s staggering $222 billion in private investment. However, an examination of the incentives and policies implemented by the Indian government reveals a holistic strategy. Its policies address gaps in various stages of the EV value chain and align with best practices observed globally, demonstrating a commitment to fostering domestic EV development.
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Report_Assessment_of_PLI_Scheme_on_EV_Manufacturing_in_India
