Budget 2026: Make in India Boosts Mobile Phones, EV Batteries; Some Imports Costlier

• Union Finance Minister Nirmala Sitharaman presented her ninth consecutive Union Budget on Sunday, February 1, emphasizing Atmanirbhar Bharat and Make in India.
• The Budget 2026-27 focuses on promoting domestic production and making essential goods affordable for consumers.
• Customs duty changes aim to reduce costs for domestically manufactured electronic products, potentially making smartphones cheaper.
• Lithium-ion battery manufacturing will become cheaper due to expanded basic customs duty exemption on machinery, benefiting EV prices and green energy goals.
• Some imported items will become more expensive as customs duties are re-imposed or increased to encourage domestic production over imports.

Why It Matters: Budget 2026 promotes domestic manufacturing, making smartphones and EV batteries cheaper while increasing costs for some imports.