India eliminates customs duty on battery materials to encourage local manufacturing
While the new measures will help upstream battery supply-chain stakeholders in aptly securing the necessary raw materials, it will also encourage battery manufacturers to invest in importing capital goods required for EV battery manufacturing
Presenting the Union budget for financial year 2025-26 on Feb. 1, India’s Finance Minister Nirmala Sitharaman announced the removal of the basic customs duty (BCD) on the import of various battery materials. This includes cobalt powder, lithium-ion battery scrap, lead, zinc and 12 other essential materials.
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