Lithium reserves discovered in J&K

Current context: The Geological Survey of India has recently discovered 5.9 million tonnes reserves of lithium in the Reasi district of Jammu and Kashmir.

Currently, India imports lithium from Argentina and Australia, however, the price of lithium has skyrocketed by 400% in 2021 due to the increase in demand for digital growth and electric batteries during the COVID-19 pandemic.
Most of the world's lithium reserves are located in South America, particularly in Argentina, Chile, and Bolivia, which form the Lithium Triangle.
However, China is the largest producer of lithium, accounting for 75% of the world's production, while focusing on refining the metal.
Lithium is essential in producing rechargeable batteries, which are crucial in electronic devices such as electric vehicles, smartphones, laptops, digital cameras, and other electronic components.
Lithium has a low density and high energy-to-weight ratio, making it ideal for electricity storage.
The Indian government plans to auction the lithium blocks soon, recognizing the importance of this metal in the digital world and its potential as a key component for electricity storage.