Union Budget 2025 Quote | Mr. Anupam Kumar, Co-Founder and CEO of MiniMines Cleantech Solutions – EQ
The Union Budget 2025-26 marks a transformative step toward a cleaner, greener future, and for companies like MiniMines, it presents a wealth of opportunities. With the government’s strong push for clean energy, the demand for critical materials such as lithium-ion is set to rise.
The Finance Minister’s proposal to provide a full exemption of Basic Customs Duty (BCD) on cobalt powder, lithium-ion battery waste, scrap, and 12 other critical minerals is a major boost for the sector. This move will secure the availability of these essential materials for domestic manufacturing. Additionally, the customs duty reduction on lithium batteries will drive increased consumption, further benefiting the battery recycling industry. The reduction of BCD from 5% to 2.5% is expected to accelerate EV adoption, creating a ripple effect that will increase the demand for battery recycling and rare metal recovery. Furthermore, the tax exemption on cobalt powder will boost the sales and adoption of cobalt-based battery chemistries, opening new avenues for growth in energy storage and mobility.
