India to exempt critical minerals from customs duty
Cobalt, lithium battery scrap, lead and zinc are among the 16 sources of minerals exempted in India's latest budget.
While presenting India's 2025-26 budget on Saturday 1 February, the Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, proposed reforms to the mining sector.
The minister fully exempted cobalt powder and waste, the scrap of lithium-ion battery, lead, zinc and 12 more critical minerals from basic customs duty.
In addition, 35 additional capital goods for electric vehicle battery manufacturing, and 28 additional capital goods for mobile phone battery manufacturing are to be exempted.
Two days earlier, Prime Minister Narendra Modi announced that India's National Critical Minerals Mission aims to reduce import dependence, strengthen domestic value chains and support India's 'Net Zero by 2070' goal.
