Union Budget 2025: Centre To Exempt Duty On Cobalt Powder, Lithium-Ion...

The Union Budget 2025 exempted duty on cobalt powder and lithium-ion batteries, which are essential for the production of electric vehicles (EVs) and renewable energy storage. The exemption is a strategic move to promote the EV industry and accelerate the adoption of green energy technologies. By lowering the cost of these critical materials, the government aims to make electric vehicles more affordable and boost the development of India’s green energy infrastructure. This policy is expected to help the country achieve its climate goals and support the transition to sustainable energy solutions.