Economic Analysis of Lithium Ion Battery Recycling in India

Lithium-ion batteries (LIBs) pose a significant threat to the environment due to hazardous heavy metals in large percentages. That is why a great deal of attention has been paid to recycling of LIBs to protect the environment and conserve the resources. India is the world's second-most populated country, with 1.37 billion inhabitants in 2019, and is anticipated to grow by 273 million people by 2050, according to the United Nations. The biggest obstacles for India's sustainable development will be reducing \({CO}_{2}\) emissions and satisfying the energy requirements of such densely populated country. The electric vehicle (EV) and renewable energy sectors have benefited as a result of this. Indian government wants to achieve 100 percent electric transportation by 2030, and the country's EV battery market is estimated to expand by $300 billion between 2017 and 2030. Batteries, on the other hand, are linked to a slew of difficulties, including their disposal as municipal solid hazardous waste at the end of their useful lives. Waste batteries, when properly utilised, can create several beneficial economic opportunities as well as jobs. This paper highlights India's lithium-ion battery market current scenario, potential, opportunities and various challenges associated with recycling procedures. The study of foreign market regulatory structures on recycling and management of lithium-ion battery waste is also being done, and few regulatory guidelines are being suggested that would improve the Indian battery recycling industry.