This knowledge paper provides an overview of various applications in which advanced energy storage technologies can serve to make Grid more reliable, with a focus on the Indian Grid. It also showcases examples from around the globe that can guide Indian DISCOMs on how the deployment of batteries can manage DSM effectively, reduce penalties, provide efficient ramping, defer distribution transformer upgrades and also capture in curtailments. The paper also discusses potential business models that can make integration of storage with grid feasible both technically and commercially, with insights into future developments and predictions.