Backed by various promotional schemes and policies of the government, share of renewable energy sources (RES) is increasing in a faster way in India. Country has to promote the exploitation of renewable resources for a sustainable power system and economy. Increased penetration of intermittent RES affects the grid stability. Electrical Energy Storage (EES) systems are promising solution for grid stability issues. Different types of EES systems are developed all over the world and a number of storage technologies are under experimentation. This paper is mainly focusing on the status of the development and future prospects of large scale electrical energy storage systems in India. Significance of EES systems in modern power systems, overview of the existing large-scale EES systems, Comparison of large-scale EES systems and advantages and disadvantages of various storage technologies etc. are discussed in this paper. List of existing and developing large scale EES projects in India is introduced. Challenges in EES development in India and its significance in future are also studied.