India’s battery energy storage sector set for 91% growth to 302GWh by FY32E: Nuvama
BusinessLine 1 hr ago·12 Oct 2026, 5:23 am
India's battery energy storage sector is poised for a massive expansion, with cumulative capacity expected to grow nearly 91% to reach 302 GWh by FY32E. This surge is largely driven by a strong push for localisation and a significant decline in battery costs, which is making energy storage solutions more viable for various applications.
For investors, this growth trajectory signals a developing opportunity within the broader market. As the sector scales up, it may attract increased interest and capital towards companies involved in manufacturing, supply chain logistics, and the deployment of energy storage systems across the country.
Investors should monitor the pace of localisation efforts and the stability of battery prices. These factors will be critical in determining the profitability and scalability of businesses operating within this expanding energy landscape.
Excerpt from BusinessLine
India’s Battery Energy Storage System (BESS) sector is projected to register a compound annual growth rate (CAGR) of 91 per cent between FY26 and FY32E, according to a recent report by Nuvama. The expansion reflects a critical infrastructure cycle designed to support renewable integration, grid balancing, and…Read the original at BusinessLine
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