Reduction in import duty for alternate chemistry cells to boost battery ecosystem in India.
Reduce import duties for alternate chemistry cells
“Electric is the future of mobility and while the government is taking steps towards pushing EV adoption both from a consumer standpoint as well as a manufacturing standpoint. The FAME II subsidy and the income tax rebates on purchase has led to increased consumer demand and the PLI scheme recently launched is aimed at promoting advanced technologies, chief of which is battery electric technology.”
“Batteries are at the centre of EV success however import duties on key components are increasing cost. We believe that a reduction in import duty for Alternate Chemistry Cells will boost the battery ecosystem in India and help take us to the next level. We are hopeful that the government will look at this area in the upcoming budget.”
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