India, Feb. 1 -- The electric mobility sector grabbed its fair share of the spotlight as Finance Minister Nirmala Sitharaman presented the Union Budget 2025-26 on February 1 (Saturday).

In her eighth budget speech, the FM announced a National Manufacturing Mission for MSMEs and large enterprises in line with India's vision to become a global manufacturing hub.

In the same breath, Sitharaman said the mission will strengthen the nation's manufacturing capabilities in the cleantech space, in particular solar cells and the electric vehicle (EV) ecosystem.

High battery cost is the biggest reason behind EVs being more expensive than vehicles with internal combustion engines (ICE). As per estimates, the upfront cost of an EV is roughly 1.5-2X...