On March 25, Finance Minister Nirmala Sitharaman announced the removal of import duties on 35 capital goods for EV battery production and 28 components for mobile phone batteries. This move is part of a broader strategy to support local industries and counter potential reciprocal US tariffs. The aim is to reduce production costs, boost domestic manufacturing, and enhance export competitiveness by lowering duties on essential raw materials, promoting economic growth and trade.
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