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Govt Drops Import Duty On Key Components For EV Batteries

  • The Indian government removed import duties on goods and raw materials used in manufacturing EV batteries and mobile phones.
  • The move aims to boost domestic production and enhance export competitiveness.
  • India and the US are in negotiations to address tariff concerns and work towards a bilateral trade agreement.
  • The government is open to cutting tariffs on more than half of US imports worth $23 billion in the first phase of a trade deal.

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