It's everywhere today but to concede it's the jewels that pause your smartphone your tablets cameras laptops and now even cars. this element is the driver off the technology age and ID could dictate the future of civilization.
I'm talking about lithium the element that is used to make batteries the future of humanity it could be locked in this soft gray metal. Almost every thing today and tomorrow will run on batteries and these batteries are made of flipped him India plans to bind it to him a lot of it in fact I'm talking about supplies that could potentially lost decades and they could make India self reliant in an industry that is set to transform our way of life.
New Delhi has started a massive effort to make India a world leader in lithium batteries because everything in the future will drop on such batteries on rabbit Dustin I can tell you the story of how India is taking its first step towards technological self reliance. India plans to procure it's only 10 supplies a giant stockpile this would allow Indian companies to make batteries for all your gadgets at home.
This strategy has 3 steps for us to secure supplies from the largest reserves in the world doorbell the infrastructure to process let him like refineries and 3 leverage alliances to enter the global markets India is working on all 3 fronts that's stocked with the supplies where willing to get the legitimate needs your daily is going straight to the source countries that have the largest stockpiles of let him like Argentina, Chile and Bolivia.
A new company was set up in 2019 I need to be there in the I limited it was incorporated by 3 state owned companies nalco Hindustan copper and mineral exploration limited. Cottage British courage but there's an element of that's what it's called has a very special mandate it will acquire strategic mineral assets like lift him uncle booked the foundation has already been made for this this company inked a pact with the farm in Argentina out together they will hunt for results Ginny and believe we are the other 2 potential sources as of last year 2020.
India is the largest importer to mine batteries. This is the most commonly used factory in portable electronics like your smart phones or tablets since 2016 there has been a full full jump in imports India bought batteries worth $2000,000,000 in not in 2019-20 a lot of junk of this business went to China-India was buying batteries from China of course we don't want that you want to change that India wants to make batteries at home now but it needs the raw materials fussed.
So India is reaching out to Argentina Chile and Bolivia the top 3 countries with the largest lithium reserves in the world. Now let's talk about steps too often guess strategy which is infrastructure in the often been it's foster Kim refinery in Gujarat a state owned company will invest 1000 crore rupees for this that's more than $100,000,000 and so this refinery the facility will process let him or to produce battery grade lithium will be able to produce batteries that brings us a step 3 competing in the global market and for this in Devon have to eat into China's global market check.
Reports say Chinese phones control almost half of the global lithium production. China has 73 percent share in the global cell manufacturing capacity it's time to change that India is making the move Australia wants to collaborate with India the Australian High Commissioner to India Baddiel Saturn issued a statement this week he said India and Australia board stand to gain from the promise of expanding trade in lift him.
Australia is one of the largest producers of lithium it has a reserve of more than 6,000,000 tons India could leverage these supplies in Australia is ready to offer them the envoy said that Australia is well placed to support India's ambitions around the development of new economic sectors. This is a tough game ramping up manufacturing depends on investment but the biggest challenge your is the procurement of let him live 10 makes up only 0.002 percent of the earth's crust point 002 the supplies gas and securing that is India's top priority as India begins its quest to dominate the global battery market.