India Remains 100% Import Dependent for Lithium Cobalt and Nickel

India imports all of its lithium, cobalt and nickel requirements, and critical mineral supply chains remain concentrated among a handful of countries, amplifying energy transition risks, according to an April 2026 briefing by the Institute for Energy Economics and Financial Analysis. Demand for these five minerals is expected to more than double by 2030 as India accelerates electric vehicle adoption and renewable energy expansion.

Of the 30 minerals identified as critical by the Indian government, IEEFA's analysis focuses on cobalt, copper, graphite, lithium and nickel. Chile is India's largest critical mineral supplier by volume, accounting for 2.8 million tonnes of imports between FY19 and FY25. China, Belgium, Germany and Japan play systemic roles across multiple mineral value chains. Copper ore imports alone reached 2.3 million tonnes valued at US$3.8 billion in FY25, while lithium and graphite imports are subject to sharp price swings driven by global oversupply and geopolitical export restrictions.

Protectionist policies in key producing and processing countries are fragmenting global markets precisely when India's clean energy build-out is accelerating demand. India targets 500 GW of non-fossil fuel capacity and 50 per cent renewable energy capacity by 2030, making secure mineral supply chains a strategic priority. China controls approximately 70 per cent of global natural graphite production, 80 per cent of synthetic graphite supply and 90 per cent of anode manufacturing capacity, creating a single-point dependence that carries both price and access risks for Indian manufacturers.

IEEFA recommends that India deepen industry-level partnerships with resource holders, refiners and technology leaders beyond government-to-government agreements. The analysis calls for joint exploration, scaled research and development, technology transfer and investment in domestic recycling to reduce long-term import dependence. India is already engaging with Australia, Japan, the US, UK, EU, South Africa, Zambia and Argentina, while exploratory discussions are ongoing with the DRC, Chile, Mongolia, Morocco, Mozambique and Saudi Arabia.

Key figure — 2.8 million tonnes imported from Chile (FY19–FY25)