India Eyes $9 Billion Battery Waste Market

India is exploring the potential of agricultural waste and other waste materials as a commodity, with estimates suggesting that the country could generate significant amounts of valuable materials. The country is aiming for 30 million EV sales by 2032, which is expected to generate approximately 128 GWh of battery waste by the end of the decade.

The projected 128 GWh of waste can potentially yield 17,500 tonnes of lithium, 22,600 tonnes of nickel, 2,600 tonnes of cobalt, and 141,800 tonnes of graphite. This represents a significant opportunity for India, with a circular battery economy estimated to be a $9 billion market.

Companies like BacAlt Biosciences are working on making biological alternatives to synthetic polymers from waste. The company, founded in Bengaluru in 2023, has raised ₹18 crore (about $2 million) in funding. Other companies, such as Coal India and Wealth Minerals, are also exploring opportunities in the sector, with applications for a lithium extraction licence from the Chilean government.

Chile holds the world's third-largest lithium resources, estimated at 13 million metric tons. India has also signed critical minerals cooperation agreements with Argentina, Australia, and Japan, further strengthening its position in the market.

## Why it matters The Indian government has announced a ₹23,731 crore GOBARdhan plan to convert waste into fuel, highlighting the potential for agricultural waste to be transformed into a valuable resource. Treating agricultural residue as an economic resource could transform a seasonal environmental challenge into India’s most significant rural and green economy opportunities.

As the country accelerates its adoption of electric vehicles, the fate of battery waste will determine whether India will be a self-reliant producer or replace import dependence on crude with import dependence on critical minerals. With the right investments and technologies, India could unlock a significant market opportunity and reduce its reliance on imports.