FM proposes exempting duty on capital goods used in lithium-ion battery production

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Times of India 4h ago

FM proposes exempting duty on capital goods used in lithium-ion battery production - Times of India

Quick Summary:

Finance minister Nirmala Sitharaman announced duty exemptions on capital goods used in manufacturing lithium-ion batteries to boost domestic production essential for electric vehicles and mobile phones.

The move aims to reduce costs, accelerate India's EV transition, enhance manufacturing capacities, and create high-value jobs in the sector.

The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies.