India’s EV industry leaders applaud the Union Budget 2025 for prioritizing clean technology, manufacturing, and infrastructure, boosting adoption, local production, investment, job creation, sustainability, battery innovation, charging networks, research, development, supply chains, policy support, green energy integration, affordability, and global competitiveness.
One of the budget’s main features is its emphasis on domestic battery manufacture, which includes a number of initiatives to lower prices and improve supply chain effectiveness. According to Pratik Kamdar, CEO and co-founder of Neuron Energy, “the National Manufacturing Mission’s coverage of MSME represents a step forward in bolstering domestic EV battery production.” It is anticipated that the removal of basic customs duty on lithium-ion batteries will result in more flexible and affordable supply chains.
The budget’s dedication to technology development has drawn special recognition from industry participants. The establishment of a Deep Tech Fund is regarded as an essential first step in developing a tech-driven, internationally competitive economy and fortifying India’s industrial ecosystem.
Small business and manufacturing provisions in the budget have been identified as potentially game-changing for the industry. Bhuvneshwar Pal Singh, Managing Director & CFO of Maxvolt Energy, calls the budget “a game-changer for small businesses, exports, and manufacturing.” He cites specific measures like the introduction of customized credit cards for micro-enterprises with a ₹5 lakh limit as essential steps in empowering grassroots entrepreneurs.
One important aspect of the budget has been identified as the emphasis on enhancing energy infrastructure, specifically for EV charging stations. Leaders in the industry think that more EV adoption will be facilitated by state incentives and power sector reforms.
It is anticipated that the ₹10,000 crore investment in the ‘Fund of Funds for Startups’ and other budgetary efforts will foster clean-tech innovation, job creation, and a more resilient EV sector. Industry experts said they are confident that India will become a worldwide leader in electric mobility with these steps in place.