Govt to extend key manufacturing plan to promote battery industry

In the phased manufacturing plan for lithium-ion (Li-ion) batteries, it is proposed by the committee to promote indigenous battery production

The Centre is looking to extend its phased manufacturing plan (PMP) for promoting indigenous battery manufacturing in the country for supporting electric mobility. PMP was initiated by the Ministry of Electronics & Information Technology for electronics and provided financial incentives, several duty exemptions, and countervailing duty on imports to boost domestic production. 

At a recent meeting of the committee of secretaries on electric mobility, it was also proposed to provide financial assistance to the domestic battery sector. The committee recommended to the Department of Revenue that the goods and services tax (GST)/basic Customs duty on the raw materials imported for