In a major boost for India's Electric Vehicle (EV) industry, the government has removed import duties on key raw materials used in EV battery production. Finance Minister Nirmala Sitharaman announced the exemption of duties on 35 essential items for EV batteries and 28 items for mobile phone production. This initiative aims to lower production costs, making electric vehicles more affordable and accelerating the growth of the EV market in India.
The move is part of the government's broader strategy to promote domestic manufacturing, reduce reliance on imports, and strengthen the EV sector. Sitharaman emphasized that the policy is designed to enhance India's export competitiveness. This decision also comes in response to the US’ tariff pressure and seeks to protect India's EV and tech sectors from global trade disruptions. The move underscores the government's commitment to sustainable mobility and increasing EV adoption across the nation.
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