New Delhi: India is transitioning from being primarily an importer of battery materials to developing a domestic battery chemicals ecosystem, with demand for advanced chemistry cells (ACC) expected to grow sharply in the coming years, brokerage firm Nuvama said in a research report.
Nuvama expects India's ACC demand to grow at a compound annual growth rate (CAGR) of 39 per cent between 2025 and 2030, reaching around 700 GWh by 2030 from 40 GWh in 2025. Demand is expected to remain strong thereafter, growing at a CAGR of 27 per cent between 2030 and 2035.
