The India Energy Storage Alliance (IESA) said that the country is likely to attract ₹4.79 lakh crore investment by 2032 and will expand five-fold between 2026-2032. The National Electricity Plan projected that India will need energy storage capacity of 16.13 GW by 2026-27. Additionally, the storage capacity demand is projected to increase to 73.93 GW by 2031-32.