India's reliance on imports for battery cells could hinder its renewable energy goals and increase costs for energy storage projects. Locally manufactured cells are expected to remain 25%-40% more expensive than imports due to limited scale and higher financing costs. The country's dependence on foreign technology licensors also poses risks to its energy security and supply chain resilience. However, India's competitive cost position compared to other nations like Japan and South Korea could attract global investments if execution challenges are addressed.