Policy reforms are required to advance EV battery recycling infrastructure in India as the electric vehicle market in India is projected to grow by 49% annually by 2030. The need for this was emphasized in its report on “Assessing Gaps in India’s Electric Vehicle Battery Recycling Ecosystem.” released by Delhi-based research organization *BharatGAIN. Has gone.
The government has set a target of selling 30% of private cars, 70% of commercial vehicles and 80% of two- and three-wheelers by 2030, but the imbalance in the battery recycling ecosystem is the main challenge. The government will also need to focus on enhancing a strong recycling ecosystem to manage the growth in lithium-ion batteries. This is extremely important considering the electric vehicle market in India is expected to grow at a rate of 49% by 2030.
It is necessary to increase financial incentives
The BharatGAIN report also emphasizes on increasing financial incentives to make India a global hub for recycled lithium-ion batteries, as underdeveloped infrastructure and high cost of setting up the infrastructure are the main constraints for this sector, hence battery design. This financial incentive is necessary to amend the Battery Waste Management Rules (BWMR) for standardization of batteries and to promote recycling investments. At the same time, it is equally important to encourage cooperation between government and private industries, promote research and development as well as promote skilled workforce.
*Ms. Gauri Dutta, Director, BharatGAIN, said, “The growth of EVs in India is promising, but our move towards electric vehicles can be successful only if we understand its huge potential and work in that direction. She said, Lithium Developing a circular economy for ion batteries is essential not only to reduce our dependence on imports but also to create a brighter future in line with our net-zero goals.
Expected 10 million direct and 50 million indirect employment.
The EV sector is also going to play an important role from the employment point of view. According to the report, the EV sector is expected to create approximately 10 million direct and 50 million indirect jobs by 2030, highlighting India’s potential to unlock significant economic growth through a sustainable battery recycling infrastructure, but recycling plants To set up, a large scale investment is required, which is approximately Rs 220 to 370 crores.
