With the rise in the need for metals like copper and lithium, the Indian govt is looking to increase the import of metals from the major exporters of metal. The volume of lithium-ion imported in 2019-20 was 539427.2 and in 2021-22 the volume of imported lithium grows to 616768.1. According to sources the Indian govt may try to acquire the major metal-producing mines in Argentina or may take on a lease for 5 years or more. This step will cut the import cost by cutting the charges that India has to pay to the Argentina govt for import and the quantity of metal imported may also increase. Australia has become the largest exporter of lithium, so the Indian govt may try joint venturing for lithium import or, may capture the mines in Australia on lease. Chile is a major exporter of copper and India may increase the import of copper anode, cathode, and copper ore from Chile. Top copper importer players in India are siemens, Ono Sokki India PVT ltd, Sterlite technologies, and Metal gems. The top lithium importer players in India are Shannon's technology, Panasonic India, Spectro Analytical India, and HI PHYSIX laboratory.
The major reason behind the rising demand for copper and lithium may be the growing market of electric vehicles in India. An IC engine vehicle uses 23 kg of copper and an electric vehicle uses 83kg of copper, which shows that more amount of copper uses in electric vehicles, and the battery packs which are used in electric vehicles use 8kg of lithium per vehicle. This factor may be the reason behind the growing demand for copper and lithium in the country and it may rise continuously in upcoming years.
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