CosmicTaco

India Boosts EV Battery Production with Duty Exemptions

CosmicTaco · 2025-02-01T15:31:24.097988+05:30

- Finance Minister Nirmala Sitharaman announced duty exemptions on capital goods for lithium-ion battery production in the Union Budget 2025. - The move aims to enhance domestic manufacturing, reduce import dependence, and lower production costs for EV and mobile phone batteries. - Industry leaders praised the initiative, highlighting its potential to drive technological advancements and create high-value job opportunities. Source: [Zee News](https://zeenews.india.com/mobility/fm-proposes-to-cut-duty-on-capital-goods-used-in-lithium-ion-battery-production-2852050.html), [The Times Of India](https://timesofindia.indiatimes.com/business/india-business/budget-2025-customs-duty-exemption-on-lithium-ion-battery-scrap-announced-by-fm-sitharaman/articleshow/117822970.cms), [Firstpost](https://www.firstpost.com/india/one-budget-2025-move-that-will-make-evs-mobile-phones-cheaper-13858528.html), [Business News India](https://www.businesstoday.in/union-budget/news/story/union-budget-2025-26-evs-to-get-cheaper-key-announcements-made-for-lithium-battery-sector-462957-2025-02-01)

Finance Minister Nirmala Sitharaman announced duty exemptions on capital goods for lithium-ion battery production in the Union Budget 2025.
The move aims to enhance domestic manufacturing, reduce import dependence, and lower production costs for EV and mobile phone batteries.
Industry leaders praised the initiative, highlighting its potential to drive technological advancements and create high-value job opportunities.

Source: Zee News, The Times Of India, Firstpost, Business News India