India's critical minerals: EV boom ahead, but policy gaps persist

The Centre has also extended the concessional Customs duty of 5 per cent on Li-ion cells until March 2026

To position India as a key manufacturing hub for advanced technologies like electric vehicles (EVs) and energy storage systems, Finance Minister Nirmala Sitharaman on Tuesday removed the Customs duty on 25 critical minerals, including lithium, nickel, copper, and cobalt.

The Centre has also extended the concessional Customs duty of 5 per cent on Li-ion (lithium-ion) cells until March 2026 and launched the Critical Mineral Mission (CMM) for domestic production and recycling of critical minerals.

Although industry executives believe that the relaxation of import terms and CMM are poised to bolster the government’s Make in India initiative, they