SIAM Endorses Union Budget 2026 for Manufacturing and Electric Vehicle Support
The Society of Indian Automobile Manufacturers (SIAM) has endorsed the Union Budget 2026-27, emphasizing its emphasis on manufacturing, infrastructure, and electric mobility for the automotive sector. The budget includes a capital expenditure increase to ₹12.2 lakh crore, enhanced policies for electronics manufacturing, and the allocation of 4,000 e-buses for Purvodaya States, along with extended customs duty exemptions for lithium-ion battery manufacturing until March 2028 to strengthen India's electric vehicle ecosystem.
Theia Market Signal Identification - AI Assisted
The Society of Indian Automobile Manufacturers (SIAM) has endorsed the Union Budget 2026-27, highlighting its focus on manufacturing, infrastructure, and electric mobility as crucial for the automotive sector. Key points include an increase in capital expenditure to ₹12.2 lakh crore for FY27 from ₹11.2 lakh crore, which is expected to stimulate demand and industrial activity.
Additional support includes enhanced policies for electronics manufacturing, dedicated corridors for rare earth mining, and investments in high-tech facilities. SIAM also noted the allocation of 4,000 e-buses for Purvodaya States and the continued exemption of customs duties on capital goods for lithium-ion battery manufacturing, with concessional duty benefits extended until March 2028 to foster a robust electric vehicle ecosystem in India.
Comments