The demand is real and growing fast
According to a report from trade association India Energy Storage Alliance (IESA), India’s advanced chemistry cell (ACC) battery demand stood at 28 gigawatt-hours (GWh) in 2025, split roughly between EVs (~60%) and stationary/grid storage (~40%).
A projection by the Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research puts this scaling at a 36.5% compound annual growth rate (CAGR) to ~272GWh by FY2030. IESA forecasts demand of over 700GWh by the mid-2040s.
India will need an enormous volume of battery cells. The question is: who makes them?
The answer, right now, is China. Despite ~60GWh of installed domestic capacity to manufacture battery packs, India’s cell manufacturing reached only ~1GWh by the end of 2025.
