“BatX Energies applauds the recent budget announcement by the Indian government, which marks a significant stride towards a greener future. The reduction of Basic Customs Duty (BCD) and exemption of 25 essential minerals from custom charges is set to lower production costs for battery manufacturing and recycling, enhancing the affordability and accessibility of electric vehicles (EVs) in India. The strategic move will significantly impact India’s EV market by lowering production costs, enhancing competitiveness, supporting domestic manufacturing, encouraging innovation, improving supply chain resilience, and promoting environmental sustainability. The budget aims to support the ambitious goal of achieving 30% electrification of the vehicle fleet by 2030, bolstered by initiatives like the Production Linked Incentive (PLI) scheme for urban mining in future, expected to expand recycling capacity to process 295,000 metric tons of dead batteries annually, generating significant employment and forex savings estimated at INR 31,835 crore by 2030.
These measures collectively position India not only as a leader in the global transition to sustainable and green mobility but also as a visionary pioneer shaping the future of clean energy and environmental stewardship. With this forward-thinking approach, India is poised to redefine the global landscape of sustainable development and green innovation. “
