India, Sept. 29 -- Retired electric vehicle (EV) batteries, currently classified as "hazardous waste", could contain minerals worth Rs.1.01 lakh crore in India by FY2040-41, according to a working paper by the Centre for Social and Economic Progress (CSEP).

The paper, by CSEP fellow Shyamasis Das and former research associate Kartik Nair, is scheduled to be published on September 29. It examines the potential of battery recycling in India, including EV sales, battery chemistry, recoverable minerals, recycling capacity and investment requirements.

"India should not wait for millions of retired EV batteries to accumulate before deciding to invest in building recycling capacity," Das said. "The country is still early enough in its EV trans...