| Buying a Smartphone will become cheaper Here’s the big reason find out everything here

The government believes that reducing the tax on raw materials will reduce the costs of battery manufacturing companies. When manufacturing becomes cheaper, its effect will also be visible on the price of the final product. In such a situation, mobile phones and EVs may become more affordable than before in the coming times. This decision can bring relief not only for the companies but also for crores of consumers who were postponing purchases till now due to expensive smartphones and electric vehicles.

A major objective of the government behind this budget decision is to strengthen domestic manufacturing. India is still largely dependent on imports for batteries and its components. By giving relief in custom duty, the government wants to increase the manufacturing of batteries in the country so that India can emerge as a global manufacturing hub. Lithium-ion batteries are being used everywhere today, from mobile phones to electric vehicles, hence this step is also considered very important strategically.