India Extends Import Tax Exemptions for Nuclear Equipment and Clean Energy Technologies Until 2035
India will extend import tax exemptions on nuclear power equipment until 2035, as announced by Finance Minister Nirmala Sitharaman. This decision supports the goal of achieving 100 gigawatts of nuclear power generation capacity by 2047, an increase from current levels.
The budget also includes import duty exemptions for machinery used in manufacturing lithium-ion battery cells and sodium antimonate for solar glass. These measures aim to enhance local manufacturing and reduce reliance on imports for clean energy technologies.
India plans to add at least 50 GW of renewable energy capacity annually by 2030 to meet its target of 500 GW. The customs duty exemptions are part of a broader strategy to transition to non-fossil fuel-based energy generation and promote the bio-energy sector, including biogas blended CNG.
