In her Union Budget 2025 speech, Finance Minister Nirmala Sitharaman announced significant reductions in import duties for essential mobile phone components and critical materials like lithium-ion battery scrap. These measures aim to support local manufacturing, lower product prices, and position India as a major player in the global electronics market. Key initiatives also focus on boosting the electric vehicle (EV) sector and semiconductor manufacturing, underlining the country’s growing role in tech production.
