Nikhil Kamath spotlights battery tech as a catalyst for India’s manufacturing push

India’s manufacturing ambitions are increasingly tied to one foundational question: how will the country store and move energy reliably, affordably and at scale? In a recent episode of *People by WTF*, Zerodha co-founder Nikhil Kamath explored that question with two global battery leaders—Henning Rath, CEO of EnerVenue, and Kun Tang, Executive Chairman of HiNa Battery.

The conversation centred on what the “next battery industry” might look like, and whether India should aim to build a meaningful share of it. Rather than framing batteries as a single product category, the episode emphasised a more practical idea: different use-cases demand different chemistries, supply chains and manufacturing choices.

A closer look at “next” batteries—and why variety matters Battery technology is no longer a one-size-fits-all race. As electric mobility scales up and renewable energy expands, markets are looking for storage solutions that match specific needs—ranging from fast charging and high power, to long life and steady performance.

In that context, Kamath’s discussion with Rath and Tang underscored how innovation is unfolding across multiple tracks. Some batteries are being designed for longer lifespan and durability, suited to repeated cycling over years. Others focus on manufacturability and materials that could reduce dependence on constrained or geopolitically sensitive supply chains.

For India, this “portfolio” view is constructive. It suggests the opportunity is not only to compete in a single chemistry, but to selectively back technologies that align with India’s strengths—such as engineering talent, process optimisation, and the ability to scale manufacturing when incentives, demand and supply networks come together.

What it could mean for India’s manufacturing opportunity The episode’s guiding question—should India build the next battery industry?—lands at a moment when energy storage is becoming a core industrial capability.

Building batteries is about more than assembling cells. A competitive ecosystem can include:

• **Materials and components**: creating domestic capacity where feasible, and diversifying imports where not.
• **Cell and pack manufacturing**: scaling quality-controlled production and testing.
• **Power electronics and software**: strengthening battery management systems, analytics and safety.
• **Recycling and circularity**: developing pathways to recover value from end-of-life batteries.

Even when India partners globally on technology and equipment, local manufacturing can still drive strong outcomes: higher value addition, skilled jobs, stronger supplier networks, and export potential over time.

The conversation also implicitly highlighted the importance of long-term thinking. Battery plants, supply contracts and R&D programmes are multi-year bets. Predictable demand—whether from mobility, renewables, or industrial storage—can help unlock investment and bring down costs through scale.

A pragmatic pathway: learn, partner, scale Kamath’s format—bringing in operators building real battery companies—signals a pragmatic approach: learn directly from global experience, understand trade-offs, and identify where India can compete sustainably.

For founders and investors, the takeaway is that energy storage is not merely an “EV theme”. It is an enabling layer for manufacturing, logistics and clean infrastructure. For policymakers and industry leaders, it reinforces the value of building ecosystems where research, manufacturing, standards, and safety compliance move in step.

India’s next manufacturing wave will likely be shaped by sectors that sit at the intersection of climate goals and industrial competitiveness. Batteries, in that sense, are not just products—they are platforms that can power transport, stabilise grids, and support new factories.

**Why it matters:** Energy storage choices made today can influence India’s cost of power, industrial competitiveness, and innovation capacity for years—making conversations on battery technology timely and strategically important.