India cuts taxes on lithium-ion battery parts to boost local EV production and jobs.

Finance Minister Nirmala Sitharaman announced tax exemptions for EV and mobile phone battery manufacturing in India's budget, aiming to boost local production and reduce costs. The move adds 35 capital goods for EVs and 28 for mobile phones to the duty-exempt list, reducing import duties on battery scrap and critical minerals. This initiative seeks to lower EV costs, create jobs, and promote India's clean energy sector.

2 months ago
51 Articles