India Extends Customs Duty Exemption on Capital Goods for Lithium-Ion Cell Manufacturing
India's Finance Minister Nirmala Sitharaman announced an extension of customs duty exemptions on capital goods for lithium-ion cell manufacturing to bolster the electric vehicle sector in the Union Budget 2026. The budget also includes measures to exclude the value of biogas in excise duty calculations for CNG and customs duty exemptions for processing critical minerals. Additionally, it outlines plans for an integrated East Coast Industrial Corridor and initiatives for tourism and transportation in northeastern states.
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Finance Minister Nirmala Sitharaman announced the extension of customs duty exemptions on capital goods used for manufacturing lithium-ion cells for battery storage in the Union Budget 2026. This measure aims to support the electric vehicle industry.
Additionally, the budget proposes to exclude the entire value of biogas when calculating excise duty on biogas-blended CNG. The government will also provide customs duty exemptions for capital goods necessary for processing critical minerals in India. Sitharaman highlighted the development of an integrated East Coast Industrial Corridor with a node in Durgapur, as well as initiatives for five tourism destinations in Poorvodaya states and the provision of 4,000 e-buses for northeastern regions.
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