Lithium Cathode Active Material (NCM/NCA)
$1.2 bnAnnual import
5%Indian capability
4,950Supplier concentration (HHI)
₹6,000 crTo localise
Why India imports it. Ecopro, Umicore, BASF dominate; India has pilots at Epsilon Carbon.
Why it matters. Cathode is 40% of cell cost; cell localisation without cathode is shallow.
Can India localise it? Yes - 3-5 years; Epsilon Carbon scaling.
Where it comes from. China (65%), South Korea (25%), Japan (10%).
Scorecard
The ten indices
CMDI 81.85Dependency
LPI 46.5Localisation potential
IAI 65Investment attractiveness
SRI 70.25Supply risk
SCI 60Supply-chain complexity
TRI 43Technology readiness
IMI 77Industrial multiplier
NSRI 52.75National-security relevance
EPI 65.25Export potential
ICGI 67.5Capability gap
Who makes it
Manufacturers
In India
Epsilon CarbonTata Chemicals
Global leaders
EcoproUmicoreBasf
On the ground
Localisation projects
- Epsilon Carbon CAM Plant
Intelligence
Related signals
- India Now Has a Structured Map of Where It Stays Import-Dependent
- India's Deepest Chokepoints: EUV Photoresist, Leading-Edge Logic and Aero-Engines
- Where Dependency Meets Feasibility: SiC Power and Display-Driver ICs Are the Build-Now Surfaces
- Battery Materials Processing — Lithium, Cobalt, Nickel and the Cell-Ecosystem Opportunity
Sources
Primary references
Confidence: Reasoned estimate. Reasoned estimate. Part of Techadyant Labs' Critical Manufacturing Dependencies (Edition I).