2026 Budget: Customs duty exemption on lithium batteries to aid EV infra creation, says SIAM

India's Union Budget 2026-27 proposes customs duty exemptions on goods for lithium battery production. This move aims to build a strong electric vehicle ecosystem. The budget also extends concessional duty benefits for lithium-ion cells and parts for electric vehicles. Increased capital expenditure and support for e-buses will drive manufacturing and green mobility.