Electrifying the Future: India Exempts Customs Duties on EV Battery Materials in Game-Changing Budget 2025

The Indian government has announced a significant boost for the electric vehicle (EV) sector in the Union Budget 2025 by fully exempting customs duties on essential materials for lithium-ion batteries. This strategic move aims to lower production costs and foster local manufacturing, making EVs more accessible to consumers. Finance Minister Nirmala Sitharaman highlighted the addition of 35 new capital goods to the exemption list, enhancing India's position in clean technology and promoting job creation within the industry. This initiative is expected to strengthen the domestic supply chain and reduce reliance on imports.

 

Source: Economic Times, Moneycontrol, NDTV