One of this year’s Budget proposals was to boost the supply and manufacturing ecosystem for electric vehicles. To this end, it exempted customs duty on import of the minerals — lithium and cobalt, as also extended the concessional customs duty on import of lithium-ion cells until March 31, 2026. India relies on lithium imports, which is key component of EV batteries. Our Senior Partner Santosh Janakiram, Partner Lakshmi Prakash and Associate Ann Clara Tomy in their article published by The Hindu discuss the key budget allocations for the EV sector and how the budget fell short in pushing domestic EVs. (Photo Credit: The Hindu)
