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The Indian government has removed import duties on 35 raw materials used in electric vehicle (EV) battery manufacturing and 28 raw materials used in mobile phone production. This move aims to boost domestic manufacturing, reduce production costs, and strengthen the ‘Make in India’ initiative.
U.S. President Donald Trump has announced new retaliatory tariffs on some Indian products starting April 2, which could impact Indian industries. To counter potential effects, the Indian government is taking proactive measures to ensure minimal disruption to trade and strengthen local manufacturing.
Presenting the Finance Bill 2025, Finance Minister Nirmala Sitharaman stated, "We aim to boost domestic production and enhance export competitiveness by reducing import duties on raw materials." This decision is expected to accelerate the growth of the mobile and EV battery industries, making India a global hub for electronics manufacturing.
India and the U.S. are in discussions to resolve trade disputes and finalize a bilateral trade agreement. Reports suggest that India is willing to reduce tariffs on over $23 billion (₹1.97 lakh crore) worth of U.S. imports. The government's decision is set to strengthen the domestic manufacturing sector and enhance the global competitiveness of Indian industries.
